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

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9643; the lower boundary 0.9638; the width of the pattern 5 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9623 level.

The Bullish pennant signal – Trading instrument AUDCAD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.9647, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9636/0.9647 and upper border is 0.9661/0.9647. The pattern width is measured on the chart at -25 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 0.9632.

The Triple Bottom pattern has formed on the chart of the AUDCAD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 0.9656/0.9655.

The Double Bottom pattern has been formed on AUDCAD M5; the upper boundary is 0.9657; the lower boundary is 0.9640. The width of the pattern is 16 points. In case of a break of the upper boundary 0.9657, 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 Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9654; the resistance level 0.9673; the width of the pattern 19 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 20 points.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9649/0.9659 and upper border is 0.9670/0.9659. The pattern width is measured on the chart at -21 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 0.9644.

The technical pattern called Head and Shoulders has appeared on the chart of AUDCAD M15. There are weighty reasons to suggest that the price will surpass the Neckline 0.9661/0.9657 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.9635.

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 0.9666 is broken. The further movements will rely on the width of the current pattern 9 points.

The Triple Top pattern has formed on the chart of the AUDCAD M15 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 4, support level -11, and pattern’s width 26. Forecast If the price breaks through the support level 0.9653, it is likely to move further down to 0.9653.