FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.9919/0.9926 whereas the upper border goes across 0.9936/0.9926. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDCAD will breach the upper border to head for 0.9941.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.9908/0.9927 whereas the upper border goes across 0.9948/0.9927. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDCAD will breach the upper border to head for 0.9942.

According to the chart of M30, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.9874 is likely to encourage a continuation of the downward trend.

The Double Top reversal pattern has been formed on AUDCAD M5. Characteristics: the upper boundary 0.9934; the lower boundary 0.9931; the width of the pattern is 3 points. Sell trades are better to be opened below the lower boundary 0.9931 with a possible movements towards the 0.9916 level.

According to the chart of M30, AUDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9923, the lower border is 0.9907. The signal means that a long position should be opened above the upper border 0.9923 of the Bullish Rectangle.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9865; the resistance level 0.9870; 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 5 points.

According to M15, AUDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.9868/0.9867 is broken out, the instrument is likely to move toward 0.9890.

On the chart of AUDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9882; the lower boundary 0.9872; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9850 level.

According to the chart of M30, AUDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9882, the lower border is 0.9852. The signal means that a short position should be opened after fixing a price below the lower border 0.9852 of the Bearish Rectangle.

According to the chart of M15, AUDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.9852 – 0.9852 and upper border 0.9882 – 0.9882. In case the lower border is broken, the instrument is likely to follow the downward trend.