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

According to the chart of H1, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8786 is likely to encourage a continuation of the downward trend.

The Bullish pennant signal – Trading instrument AUDCAD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.8857, with the prospect of the next move being a projection of the flagpole height.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.8835; the lower boundary 0.8825; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.8810 level.

The Double Top pattern has been formed on AUDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.8827 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.8850; the resistance level 0.8859; the width of the pattern 9 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 9 points.