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

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.

According to the chart of M5, SILVER formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 84.18 and 82.62 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 1560 pips. Outlook: If the upper border 84.18 is broken, the price is likely to continue its move by 83.56.

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.

According to the chart of M5, AUDCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.5496, the lower border is 0.5486. The signal means that a short position should be opened after fixing a price below the lower border 0.5486 of the Bearish Rectangle.

The Triple Bottom pattern has been formed on GBPUSD M30. It has the following characteristics: resistance level 1.3666/1.3641; support level 1.3609/1.3604; the width is 57 points. In the event of a breakdown of the resistance level of 1.3666, the price is likely to continue an upward movement at least to 1.3644.