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

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.7013; the lower boundary is 0.7003. The width of the pattern is 10 points. In case of a break of the upper boundary 0.7013, 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.

The technical pattern called Head and Shoulders has appeared on the chart of AUDUSD M5. There are weighty reasons to suggest that the price will surpass the Neckline 0.7004/0.7005 after the right shoulder has been formed. So, the trend is set to change with the price heading for 0.6990.

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 0.7002 - 0.0000 and support 0.6994 – 0.6994. In case the resistance level 0.6994 - 0.6994 is broken, the instrument is likely to follow the bearish trend.

The Double Top pattern has been formed on AUDUSD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.7002 is broken, the downward movement will continue.

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 0.7016, with the prospect of the next move being a projection of the flagpole height.