FX.co ★ Patterns AUDCAD | Australian Dollar (AUD) to Canadian Dollar (CAD) Rate in the Forex market

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 0.9163 – 0.9163 and upper border 0.9171 – 0.9171. In case the lower border is broken, the instrument is likely to follow the downward trend.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9181; the lower boundary 0.9170; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9155 level.

The Bearish Flag pattern has been formed on the chart AUDCAD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 0.9169, traders should enter the market.

The Bearish pennant pattern has formed on the AUDCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 0.9169; the projection of the flagpole height is equal to 10 pips. In case the price breaks out the pattern’s bottom of 0.9169, the downtrend is expected to continue for further level 0.9154.

The Double Bottom pattern has been formed on AUDCAD M30; the upper boundary is 0.9211; the lower boundary is 0.9180. The width of the pattern is 30 points. In case of a break of the upper boundary 0.9211, 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.

On the chart of the AUDCAD H1 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 0.9179, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 22 points.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.9179 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -25 pips.

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 0.9181 – 0.9181 and upper border 0.9189 – 0.9189. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.9146 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has formed on the chart of AUDCAD M5. Features of the pattern: The lower line of the pattern has coordinates 0.9186 with the upper limit 0.9186/0.9185, the projection of the width is 10 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 0.9176, the price is most likely to continue the upward movement.