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

The Triple Bottom pattern has been formed on AUDUSD M15. It has the following characteristics: resistance level 0.6960/0.6946; support level 0.6938/0.6936; the width is 22 points. In the event of a breakdown of the resistance level of 0.6960, the price is likely to continue an upward movement at least to 0.6963.

According to the chart of M30, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6977 - 0.0000 and support 0.6963 – 0.6963. In case the resistance level 0.6963 - 0.6963 is broken, the instrument is likely to follow the bearish trend.

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 0.6977 is broken. The further movements will rely on the width of the current pattern 13 points.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6967; the lower boundary is 0.6964. The width of the pattern is 3 points. In case of a break of the upper boundary 0.6967, 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.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6964 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -16 pips.