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

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7265; the lower boundary 0.7253; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7238 level.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.7233/0.7238 whereas the upper border goes across 0.7242/0.7238. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDUSD will breach the upper border to head for 0.7253.

The AUDUSD M30 formed the Head and Shoulders pattern with the following features: The Head’s top is at 0.7278, the Neckline and the upward angle are at 0.7233/0.7230. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of AUDUSD will go towards 0.7200.

According to the chart of M5, AUDUSD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.7248, the lower border is 0.7230. The signal means that a short position should be opened after fixing a price below the lower border 0.7230 of the Bearish Rectangle.

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7251; the lower boundary 0.7242; the width of the pattern 9 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7219 level.

The Double Top reversal pattern has been formed on AUDUSD M5. Characteristics: the upper boundary 0.7250; the lower boundary 0.7242; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 0.7242 with a possible movements towards the 0.7227 level.

According to the chart of M5, AUDUSD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 0.7242 – 0.7242 and upper border 0.7251 – 0.7251. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M30, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.7228 and 0.7192 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 36 pips. Outlook: If the upper border 0.7228 is broken, the price is likely to continue its move by 0.7239.

The Double Top reversal pattern has been formed on AUDUSD H1. Characteristics: the upper boundary 0.7206; the lower boundary 0.7187; the width of the pattern is 17 points. Sell trades are better to be opened below the lower boundary 0.7187 with a possible movements towards the 0.7147 level.

On the chart of the AUDUSD M30 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 0.7193, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.