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

The Double Bottom pattern has been formed on AUDUSD M15. Characteristics: the support level 0.6604; the resistance level 0.6625; the width of the pattern 21 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.

The Bullish pennant pattern is formed on the AUDUSD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 0.6592, a further uptrend is possible.

According to the chart of H1, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6534/0.6551 whereas the upper border goes across 0.6567/0.6551. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDUSD will breach the upper border to head for 0.6591.

According to the chart of M15, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.6567 and 0.6534 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 33 pips. Outlook: If the upper border 0.6567 is broken, the price is likely to continue its move by 0.6572.

According to the chart of M30, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.6567 and 0.6534 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 33 pips. Outlook: If the upper border 0.6567 is broken, the price is likely to continue its move by 0.6580.