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

According to the chart of M5, AUDUSD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 0.6559 – 0.6559 and upper border 0.6565 – 0.6565. In case the lower border is broken, the instrument is likely to follow the downward trend.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6565; the lower boundary is 0.6559. The width of the pattern is 6 points. In case of a break of the upper boundary 0.6565, 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, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6574/0.6570 whereas the lower border goes across 0.6564/0.6570. The pattern width is measured on the chart at 10 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6570 is broken, the price could continue its move toward 0.6585.

The Double Top reversal pattern has been formed on AUDUSD M30. Characteristics: the upper boundary 0.6589; the lower boundary 0.6580; the width of the pattern is 8 points. Sell trades are better to be opened below the lower boundary 0.6580 with a possible movements towards the 0.6550 level.

The Bullish pennant signal – Trading instrument AUDUSD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.6583, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6561 is likely to encourage a continuation of the downward trend.

According to the chart of M15, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6591 while the median line of the Neck is found at 0.6571/0.6568. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDUSD will go towards 0.6546.

On the chart of the AUDUSD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.6580, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Bullish Flag pattern has been formed on AUDUSD at M5. The lower boundary of the pattern is located at 0.6553/0.6553, while the higher boundary lies at 0.6561/0.6561. 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 0.6561 is broken, the price will move further upwards.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6538; the lower boundary 0.6508; the width of the pattern 30 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6493 level.