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

The Bearish pennant pattern has formed on the AUDUSD M15 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6665, a trader will be able to successfully enter the sell position.

The Bearish pennant pattern has formed on the AUDUSD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.6667, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.6687; the resistance level 0.6694; the width of the pattern 7 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 8 points.

On the chart of AUDUSD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6710; the lower boundary 0.6695; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6665 level.

The Triple Top pattern has formed on the chart of the AUDUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.6702/0.6704 with the upper limit 0.6710/0.6708; the projection of the width is 8 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.6702, the price is most likely to continue the downward movement.