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

According to the chart of M5, GOLD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 4933.64 while the median line of the Neck is set at 4980.25/4975.86. 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 GOLD will go towards 4976.01.

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.

According to the chart of M30, GBPUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.3589 while the median line of the Neck is set at 1.3623/1.3628. 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 GBPUSD will go towards 1.3658.

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.