FX.co ★ Patterns AUDUSD | Australian Dollar (AUD) to US Dollar (USD) Rate in the Forex market

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6653; the lower boundary 0.6646; the width of the pattern 7 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6623 level.

According to the chart of M30, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6655 while the median line of the Neck is found at 0.6632/0.6633. 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 0.6603.

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 0.6641, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 14 points.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.6655; the lower boundary 0.6641; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 0.6641 with a possible movements towards the 0.6626 level.

According to the chart of M15, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.6633 – 0.6633 and upper border 0.6649 – 0.6649. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M5, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6649, the lower border is 0.6633. The signal means that a long position should be opened above the upper border 0.6649 of the Bullish Rectangle.

According to the chart of M15, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6613 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -20 pips.

The Bearish Flag pattern has been formed on the chart AUDUSD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.6618, traders should enter the market.

The Bearish pennant pattern has formed on the AUDUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6618, a trader will be able to successfully enter the sell position.

According to the chart of M30, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.6649 while the median line of the Neck is found at 0.6631/0.6631. 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 0.6601.