FX.co ★ Actual patterns. Technical analysis and trading recommendations

According to the chart of M15, AUDUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.7029 while the median line of the Neck is set at 0.7077/0.7070. 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 0.7092.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.7078 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -13 pips.

According to the chart of M5, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.7096, the lower border is 0.7083. The signal means that a long position should be opened above the upper border 0.7096 of the Bullish Rectangle.

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.