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

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.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7065 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.7077; the resistance level 0.7085; the width of the pattern 8 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 8 points.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.7093/0.7087 whereas the lower border goes across 0.7078/0.7087. The pattern width is measured on the chart at 15 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.7087 is broken, the price could continue its move toward 0.7102.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.6947 and 0.6932 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 15 pips. Outlook: If the upper border 0.6947 is broken, the price is likely to continue its move by 0.6956.

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 0.6985 is broken. The further movements will rely on the width of the current pattern 26 points.