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

The Triple Bottom pattern has formed on the chart of AUDUSD M30. Features of the pattern: The lower line of the pattern has coordinates 0.6373 with the upper limit 0.6373/0.6370, the projection of the width is 20 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 0.6353, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.6373/0.6370; support level 0.6353/0.6345; the width is 20 points. In the event of a breakdown of the resistance level of 0.6373, the price is likely to continue an upward movement at least to 0.6375.

According to the chart of M5, AUDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.6353 while the median line of the Neck is set at 0.6368/0.6369. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of AUDUSD will go towards 0.6384.

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 0.6373 is broken. The further movements will rely on the width of the current pattern 20 points.

The Double Bottom pattern has been formed on AUDUSD M15; the upper boundary is 0.6373; the lower boundary is 0.6353. The width of the pattern is 20 points. In case of a break of the upper boundary 0.6373, 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 Inverse Head and Shoulder pattern. The Head’s top is set at 0.6366 while the median line of the Neck is found at 0.6353/0.6360. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDUSD will go towards 0.6381

The Bearish pennant pattern has formed on the AUDUSD M15 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.6356; the projection of the flagpole height is equal to 20 pips. In case the price breaks out the pattern’s bottom of 0.6356, the downtrend is expected to continue for further level 0.6334.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6376; the lower boundary is 0.6361. The width of the pattern is 16 points. In case of a break of the upper boundary 0.6376, 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. The lower border of the pattern touches the coordinates 0.6402/0.6411 whereas the upper border goes across 0.6421/0.6411. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDUSD will breach the upper border to head for 0.6426.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6368; the lower boundary is 0.6362. The width of the pattern is 6 points. In case of a break of the upper boundary 0.6368, 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.