FX.co ★ Patterns AUDCAD | Australian Dollar (AUD) to Canadian Dollar (CAD) Rate in the Forex market

According to the chart of M15, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9612/0.9629 and upper border is 0.9651/0.9629. The pattern width is measured on the chart at -39 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDCAD breaches the lower border, the price could continue its move toward 0.9607.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9637; the lower boundary is 0.9629. The width of the pattern is 7 points. In case of a break of the upper boundary 0.9637, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Bullish Flag pattern has been formed on AUDCAD at M5. The lower boundary of the pattern is located at 0.9643/0.9641, while the higher boundary lies at 0.9645/0.9643. The projection of the flagpole is 9 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.9645 is broken, the price will move further upwards.

The Bullish pennant graphic pattern has formed on the AUDCAD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.9660.

The Triple Top pattern has formed on the chart of the AUDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.9625/0.9631 with the upper limit 0.9637/0.9635; the projection of the width is 12 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.9625, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9623; the lower boundary is 0.9612. The width of the pattern is 10 points. In case of a break of the upper boundary 0.9623, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9641 is broken, the downward movement will continue.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9643; the lower boundary 0.9638; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9623 level.

The Bullish pennant signal – Trading instrument AUDCAD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.9647, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9636/0.9647 and upper border is 0.9661/0.9647. The pattern width is measured on the chart at -25 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDCAD breaches the lower border, the price could continue its move toward 0.9632.