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

The Bullish pennant graphic pattern has formed on the AUDCAD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.9208.

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 0.9168 – 0.9168 and upper border 0.9174 – 0.9174. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Triple Top pattern has formed on the chart of the AUDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 0, support level -4, and pattern’s width 6. Forecast If the price breaks through the support level 0.9168, it is likely to move further down to 0.9160.

According to the chart of D1, AUDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9239, the lower border is 0.9056. The signal means that a long position should be opened above the upper border 0.9239 of the Bullish Rectangle.

The Triple Bottom pattern has formed on the chart of AUDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.9080 with the upper limit 0.9080/0.9069, the projection of the width is 17 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.9063, the price is most likely to continue the upward movement.

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 0.9089 – 0.9089 and upper border 0.9099 – 0.9099. 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 H1. 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 0.9100 is broken. The further movements will rely on the width of the current pattern 18 points.

The Double Top reversal pattern has been formed on AUDCAD M30. Characteristics: the upper boundary 0.9116; the lower boundary 0.9103; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 0.9103 with a possible movements towards the 0.9073 level.

According to the chart of H1, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.9059 is likely to encourage a continuation of the downward 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 0.9125 is broken, the downward movement will continue.