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Double Bottom
The Double Bottom pattern has been formed on AUDUSD M30; the upper boundary is 0.7055; the lower boundary is 0.7035. The width of the pattern is 19 points. In case of a break of the upper boundary 0.7055, 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.
Double Bottom
The Double Bottom pattern has been formed on AUDUSD M30. Characteristics: the support level 0.7036; the resistance level 0.7055; the width of the pattern 19 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 20 points.
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Bullish Symmetrical Triangle
According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.7063/0.7048 whereas the lower border goes across 0.7035/0.7048. The pattern width is measured on the chart at 28 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.7048 is broken, the price could continue its move toward 0.7063.
Head and Shoulders
The AUDUSD D1 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.7278, the Neckline and the upward angle are at 0.7102/0.7080. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDUSD will go towards 0.7040.
Head and Shoulders
According to the chart of D1, AUDUSD formed the Head and Shoulders pattern. The Head’s top is set at 0.7278 while the median line of the Neck is found at 0.7102/0.7080. 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 AUDUSD will go towards 0.7040.
