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

According to the chart of M5, AUDUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6510, the lower border is 0.6502. The signal means that a short position should be opened after fixing a price below the lower border 0.6502 of the Bearish Rectangle.

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 0.6472 is broken, the downward movement will continue.

The Triple Bottom pattern has formed on the chart of AUDUSD M15. Features of the pattern: The lower line of the pattern has coordinates 0.6425 with the upper limit 0.6425/0.6423, the projection of the width is 9 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.6416, the price is most likely to continue the upward movement.

According to the chart of M15, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.6457/0.6447 whereas the lower border goes across 0.6439/0.6447. The pattern width is measured on the chart at 18 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.6447 is broken, the price could continue its move toward 0.6470.

According to H1, AUDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.6429/0.6424 is broken out, the instrument is likely to move toward 0.6464.