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

On the chart of the AUDCAD 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 0.9821, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 16 points.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.9823 and 0.9794 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 29 pips. Outlook: If the upper border 0.9823 is broken, the price is likely to continue its move by 0.9825.

According to the chart of M30, AUDCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 0.9748 while the median line of the Neck is set at 0.9771/0.9774. 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 AUDCAD will go towards 0.9804.

According to the chart of M30, AUDCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 0.9774 while the median line of the Neck is found at 0.9748/0.9762. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of AUDCAD will go towards 0.9804

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9779; the resistance level 0.9786; the width of the pattern 7 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 7 points.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9796/0.9804 and upper border is 0.9813/0.9804. The pattern width is measured on the chart at -17 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and AUDCAD breaches the lower border, the price could continue its move toward 0.9789.

According to the chart of M5, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9803 - 0.0000 and support 0.9793 – 0.9793. In case the resistance level 0.9793 - 0.9793 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on AUDCAD 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 0.9802 is broken. The further movements will rely on the width of the current pattern 9 points.

The Double Bottom pattern has been formed on AUDCAD 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 0.9858 is broken. The further movements will rely on the width of the current pattern 40 points.

On the chart of AUDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9953; the lower boundary 0.9935; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9895 level.