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

According to the chart of H1, AUDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.9756 while the median line of the Neck is found at 0.9657/0.9661. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDCAD will go towards 0.9621.

According to the chart of M5, AUDJPY formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 113.06/113.25 and upper border is 113.38/113.25. The pattern width is measured on the chart at -32 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 AUDJPY breaches the lower border, the price could continue its move toward 113.10.

According to the chart of M5, GOLD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 5191.28, the lower border is 5172.34. The signal means that a long position should be opened above the upper border 5191.28 of the Bullish Rectangle.

According to M5, GBPJPY is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 212.58/212.57 is broken out, the instrument is likely to move toward 212.72.

On the chart of the SILVER 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 86.52, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 625 points.