FX.co ★ Modèles réels. Analyse technique et recommandations de trading

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9773; the resistance level 0.9778; the width of the pattern 5 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 6 points.

According to the chart of M5, AUDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9786 - 0.0000 and support 0.9776 – 0.9776. In case the resistance level 0.9776 - 0.9776 is broken, the instrument is likely to follow the bearish trend.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9749 is broken, the downward movement will continue.

According to the chart of M15, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.9752/0.9768 and upper border is 0.9785/0.9768. The pattern width is measured on the chart at -33 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 AUDCAD breaches the lower border, the price could continue its move toward 0.9746.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9759 is broken, the downward movement will continue.