FX.co ★ Patterns AUDUSD | Australian Dollar (AUD) to US Dollar (USD) Rate in the Forex market

The Double Bottom pattern has been formed on AUDUSD M30; the upper boundary is 0.7066; the lower boundary is 0.7049. The width of the pattern is 17 points. In case of a break of the upper boundary 0.7066, 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.

According to the chart of M30, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7049 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.7068/0.7061; support level 0.7049/0.7051; the width is 19 points. In the event of a breakdown of the resistance level of 0.7068, the price is likely to continue an upward movement at least to 0.7074.

On the chart of the AUDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.7078, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Triple Bottom pattern has been formed on AUDUSD M5. It has the following characteristics: resistance level 0.7077/0.7073; support level 0.7070/0.7067; the width is 7 points. In the event of a breakdown of the resistance level of 0.7077, the price is likely to continue an upward movement at least to 0.7082.

The Double Bottom pattern has been formed on AUDUSD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.7051 is broken. The further movements will rely on the width of the current pattern 9 points.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.7087; the lower boundary 0.7080; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 0.7080 with a possible movements towards the 0.7065 level.

According to the chart of M15, AUDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.7029 while the median line of the Neck is set at 0.7077/0.7070. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of AUDUSD will go towards 0.7092.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.7078 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -13 pips.

According to the chart of M5, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.7096, the lower border is 0.7083. The signal means that a long position should be opened above the upper border 0.7096 of the Bullish Rectangle.