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

The Bullish pennant signal – Trading instrument AUDCAD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.8857, with the prospect of the next move being a projection of the flagpole height.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8835; the lower boundary 0.8825; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8810 level.

The Double Top pattern has been formed on AUDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8827 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.8850; the resistance level 0.8859; the width of the pattern 9 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 9 points.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.8879 and 0.8869 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 10 pips. Outlook: If the upper border 0.8879 is broken, the price is likely to continue its move by 0.8889.

The Double Top reversal pattern has been formed on AUDCAD M5. Characteristics: the upper boundary 0.8880; the lower boundary 0.8869; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 0.8869 with a possible movements towards the 0.8854 level.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.8838/0.8828 whereas the lower border goes across 0.8815/0.8828. The pattern width is measured on the chart at 23 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.8828 is broken, the price could continue its move toward 0.8843.

The Triple Bottom pattern has formed on the chart of AUDCAD M15. Features of the pattern: The lower line of the pattern has coordinates 0.8845 with the upper limit 0.8845/0.8836, the projection of the width is 26 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 0.8819, the price is most likely to continue the upward movement.

The AUDCAD M15 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.8855, the Neckline and the upward angle are at 0.8824/0.8828. 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 AUDCAD will go towards 0.8806.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.8835; the lower boundary is 0.8821. The width of the pattern is 14 points. In case of a break of the upper boundary 0.8835, 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.