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

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7125; the lower boundary 0.7116; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7101 level.

The Double Top pattern has been formed on AUDUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.7027 is broken, the downward movement will continue.

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.7049/0.7064 and upper border is 0.7076/0.7064. The pattern width is measured on the chart at -27 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 AUDUSD breaches the lower border, the price could continue its move toward 0.7049.

The Double Bottom pattern has been formed on AUDUSD M30; the upper boundary is 0.7066; the lower boundary is 0.7049. The width of the pattern is 17 points. In case of a break of the upper boundary 0.7066, 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 M30, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.7049 is likely to encourage a continuation of the downward trend.