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

The Double Top reversal pattern has been formed on AUDCAD M5. Characteristics: the upper boundary 0.9229; the lower boundary 0.9225; the width of the pattern is 4 points. Sell trades are better to be opened below the lower boundary 0.9225 with a possible movements towards the 0.9210 level.

On the chart of AUDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9193; the lower boundary 0.9176; the width of the pattern 17 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9136 level.

The Triple Top pattern has formed on the chart of the AUDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.9188/0.9189 with the upper limit 0.9195/0.9193; the projection of the width is 7 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 0.9188, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on AUDCAD M5. Characteristics: the support level 0.9164; the resistance level 0.9181; the width of the pattern 17 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 17 points.

According to the chart of M5, AUDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.9146 – 0.9146 and upper border 0.9153 – 0.9153. In case the upper border is broken, the instrument is likely to follow the upward trend.