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

According to the chart of M5, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6596 is likely to encourage a continuation of the downward trend.

According to the chart of M30, AUDUSD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.6581/0.6605 and upper border is 0.6627/0.6605. The pattern width is measured on the chart at -46 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 AUDUSD breaches the lower border, the price could continue its move toward 0.6575.

According to the chart of M15, AUDUSD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.6582 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on AUDUSD M30. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.6595 is broken. The further movements will rely on the width of the current pattern 14 points.

According to the chart of M5, AUDUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.6589 - 0.0000 and support 0.6582 – 0.6582. In case the resistance level 0.6582 - 0.6582 is broken, the instrument is likely to follow the bearish trend.