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

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9836; the lower boundary is 0.9822. The width of the pattern is 13 points. In case of a break of the upper boundary 0.9836, 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 M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9768 is broken, the downward movement will continue.

According to the chart of H1, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9783 - 0.0000 and support 0.9743 – 0.9743. In case the resistance level 0.9743 - 0.9743 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M30, AUDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9783, the lower border is 0.9743. The signal means that a short position should be opened after fixing a price below the lower border 0.9743 of the Bearish Rectangle.

According to the chart of M5, AUDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.9743 – 0.9743 and upper border 0.9758 – 0.9758. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on AUDCAD M30. Characteristics: the support level 0.9744; the resistance level 0.9783; the width of the pattern 39 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 40 points.

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 0.9769 is broken, the downward movement will continue.

According to the chart of M5, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9830 - 0.0000 and support 0.9820 – 0.9820. In case the resistance level 0.9820 - 0.9820 is broken, the instrument is likely to follow the bearish trend.

On the chart of AUDCAD D1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9948; the lower boundary 0.9742; the width of the pattern 206 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9702 level.

The Double Top pattern has been formed on AUDCAD D1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9742 is broken, the downward movement will continue.