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

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6596 is likely to encourage a continuation of the downward trend.

According to the chart of M30, AUDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.6581/0.6605 and upper border is 0.6627/0.6605. The pattern width is measured on the chart at -46 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 AUDUSD breaches the lower border, the price could continue its move toward 0.6575.

According to the chart of M15, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6582 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on AUDUSD M30. 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 0.6595 is broken. The further movements will rely on the width of the current pattern 14 points.

According to the chart of M5, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6589 - 0.0000 and support 0.6582 – 0.6582. In case the resistance level 0.6582 - 0.6582 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on AUDUSD M15; the upper boundary is 0.6588; the lower boundary is 0.6582. The width of the pattern is 7 points. In case of a break of the upper boundary 0.6588, 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 Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.6582; the resistance level 0.6586; the width of the pattern 4 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 4 points.

The Double Top pattern has been formed on AUDUSD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.6595 is broken, the downward movement will continue.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6550 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -7 pips.

According to the chart of M5, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6532, the lower border is 0.6526. The signal means that a long position should be opened above the upper border 0.6532 of the Bullish Rectangle.