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 0.9277; the resistance level 0.9284; the width of the pattern 7 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 8 points.

The Bearish pennant pattern has formed on the AUDCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.9278; the projection of the flagpole height is equal to 21 pips. In case the price breaks out the pattern’s bottom of 0.9278, the downtrend is expected to continue for further level 0.9263.

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 0.9280 is broken, the downward movement will continue.

On the chart of AUDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9317; the lower boundary 0.9297; the width of the pattern 20 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9257 level.

On the chart of AUDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9317; the lower boundary 0.9297; the width of the pattern 20 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9267 level.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9305; the lower boundary is 0.9297. The width of the pattern is 8 points. In case of a break of the upper boundary 0.9305, 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 M5, AUDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.9309 – 0.9309 and upper border 0.9316 – 0.9316. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Bullish Flag pattern has been formed on the chart AUDCAD M5 which signals that the upward trend will continue. Signals: а break of the peak at 0.9317 may push the price higher, and the rise will be the projection of the pole.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9310; the lower boundary is 0.9282. The width of the pattern is 29 points. In case of a break of the upper boundary 0.9310, 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 0.9282/0.9276, while the higher boundary lies at 0.9286/0.9280. The projection of the flagpole is 13 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 0.9286 is broken, the price will move further upwards.