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

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 0.7080, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 7 points.

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 0.7080 is broken. The further movements will rely on the width of the current pattern 36 points.

The Triple Bottom pattern has formed on the chart of AUDUSD M15. Features of the pattern: The lower line of the pattern has coordinates 0.7080 with the upper limit 0.7080/0.7058, the projection of the width is 36 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 0.7044, the price is most likely to continue the upward movement.

The Triple Bottom pattern has been formed on AUDUSD M5. It has the following characteristics: resistance level 0.7080/0.7058; support level 0.7044/0.7047; the width is 36 points. In the event of a breakdown of the resistance level of 0.7080, the price is likely to continue an upward movement at least to 0.7060.

The Double Bottom pattern has been formed on AUDUSD M15; the upper boundary is 0.7080; the lower boundary is 0.7045. The width of the pattern is 36 points. In case of a break of the upper boundary 0.7080, 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 produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.7106 while the median line of the Neck is set at 0.7126/0.7124. 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 0.7139.

The AUDUSD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.7148, the Neckline and the upward angle are at 0.7118/0.7113. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDUSD will go towards 0.7090.

The Triple Top pattern has formed on the chart of the AUDUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.7127/0.7132 with the upper limit 0.7144/0.7139; the projection of the width is 17 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.7127, the price is most likely to continue the downward movement.

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 0.7111 - 0.0000 and support 0.7102 – 0.7102. In case the resistance level 0.7102 - 0.7102 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on AUDUSD M5. 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 0.7111 is broken. The further movements will rely on the width of the current pattern 8 points.