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

According to the chart of M5, GBPAUD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.8673 while the median line of the Neck is set at 1.8704/1.8699. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPAUD will go towards 1.8714.

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 0.7235 is broken, the downward movement will continue.

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9891/0.9913 and upper border is 0.9930/0.9913. The pattern width is measured on the chart at -39 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 AUDCAD breaches the lower border, the price could continue its move toward 0.9898.

The technical pattern called Head and Shoulders has appeared on the chart of USDJPY M5. There are weighty reasons to suggest that the price will surpass the Neckline 157.69/157.69 after the right shoulder has been formed. So, the trend is set to change with the price heading for 157.54.

According to the chart of M5, NZDCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.4643, the lower border is 0.4638. The signal means that a short position should be opened after fixing a price below the lower border 0.4638 of the Bearish Rectangle.