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

The Bullish Pennant pattern has formed on the AUDUSD M15 chart. This is a trend continuation pattern. If the price breaks above the pattern high at 0.6984, the uptrend is expected to continue toward 0.7006.

The Triple Top reversal pattern has formed on the AUDUSD M5 chart. Its upper boundary is at 0.6972/0.6975, its lower boundary is at 0.6960/0.6964, and its current width is 12 points. If the confirmation support at 0.6960 is broken, that width can be used to project the downward move.

The Bearish Rectangle has formed on the AUDUSD M5 chart and indicates a likely continuation of the trend. Its upper boundary is at 0.7030 and its lower boundary is at 0.7022. A short position may be considered once the price closes below the lower boundary at 0.7022 of the Bearish Rectangle.

The Head and Shoulders pattern has formed on the AUDUSD M5 chart. The head high is at 0.7037, while the neckline passes through 0.7029/0.7030. The pattern may reverse the current uptrend. A break below the lower neckline anchor may confirm the bearish reversal.

The Double Bottom pattern has formed on the AUDUSD M5 chart and signals a potential reversal from a downtrend to an uptrend. A long position may be considered after the price breaks above the upper boundary at 0.7015. The projected move is based on the pattern width of 7 points.