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. Characteristics: the support level 0.9773; the resistance level 0.9778; the width of the pattern 5 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 6 points.

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 0.9786 - 0.0000 and support 0.9776 – 0.9776. In case the resistance level 0.9776 - 0.9776 is broken, the instrument is likely to follow the bearish trend.

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 0.9749 is broken, the downward movement will continue.

According to the chart of M15, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9752/0.9768 and upper border is 0.9785/0.9768. The pattern width is measured on the chart at -33 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 0.9746.

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 0.9759 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDCAD M30. Characteristics: the upper boundary 0.9791; the lower boundary 0.9747; the width of the pattern is 43 points. Sell trades are better to be opened below the lower boundary 0.9747 with a possible movements towards the 0.9717 level.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9790; the lower boundary 0.9781; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9766 level.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9779; the lower boundary 0.9770; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9755 level.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9756/0.9765 and upper border is 0.9771/0.9765. The pattern width is measured on the chart at -15 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 0.9750.

The Bearish Flag pattern has been formed on AUDCAD at M30. The lower boundary of the pattern is located at 0.9771/0.9781 while the upper boundary lies at 0.9783/0.9793. The projection of the flagpole is 23 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.9771 is broken, the price will move further downwards.