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

According to the chart of M5, AUDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.8901 is likely to encourage a continuation of the downward trend.

The Triple Top pattern has formed on the chart of the AUDCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -2, support level -7, and pattern’s width 8. Forecast If the price breaks through the support level 0.8916, it is likely to move further down to 0.8911.

The Triple Bottom pattern has been formed on AUDCAD M5. It has the following characteristics: resistance level 0.8915/0.8912; support level 0.8906/0.8905; the width is 9 points. In the event of a breakdown of the resistance level of 0.8915, the price is likely to continue an upward movement at least to 0.8920.

The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.8929; the lower boundary is 0.8922. The width of the pattern is 8 points. In case of a break of the upper boundary 0.8929, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M30, AUDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 0.8935/0.8942 and upper border is 0.8952/0.8942. The pattern width is measured on the chart at -17 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 0.8912.