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

According to the chart of M15, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.6508 – 0.6508 and upper border 0.6519 – 0.6519. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top reversal pattern has been formed on AUDUSD M15. Characteristics: the upper boundary 0.6519; the lower boundary 0.6508; the width of the pattern is 11 points. Sell trades are better to be opened below the lower boundary 0.6508 with a possible movements towards the 0.6485 level.

The Bullish pennant signal – Trading instrument AUDUSD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.6518, with the prospect of the next move being a projection of the flagpole height.

The technical pattern called Head and Shoulders has appeared on the chart of AUDUSD H1. There are weighty reasons to suggest that the price will surpass the Neckline 0.6487/0.6486 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.6446.

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 0.6505 - 0.0000 and support 0.6493 – 0.6493. In case the resistance level 0.6493 - 0.6493 is broken, the instrument is likely to follow the bearish trend.