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

The Triple Top pattern has formed on the chart of the AUDUSD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.6506/0.6507 with the upper limit 0.6518/0.6518; the projection of the width is 12 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 0.6506, the price is most likely to continue the downward movement.

The Double Top reversal pattern has been formed on AUDUSD M30. Characteristics: the upper boundary 0.6518; the lower boundary 0.6506; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 0.6506 with a possible movements towards the 0.6476 level.

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6519; the lower boundary 0.6506; the width of the pattern 13 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6484 level.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6499; the lower boundary is 0.6479. The width of the pattern is 19 points. In case of a break of the upper boundary 0.6499, 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.

The AUDUSD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.6513, the Neckline and the upward angle are at 0.6498/0.6499. 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 0.6484.

According to the chart of H1, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6452/0.6492 whereas the upper border goes across 0.6526/0.6492. 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 0.6532.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6492 is likely to encourage a continuation of the downward trend.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6433/0.6459 whereas the upper border goes across 0.6480/0.6459. 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 0.6474.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6473; the lower boundary is 0.6466. The width of the pattern is 7 points. In case of a break of the upper boundary 0.6473, 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. Description: This is the pattern of a trend continuation. 0.6514 and 0.6499 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 0.6514 is broken, the price is likely to continue its move by 0.6522.