FX.co ★ Patterns AUDCAD | Australian Dollar (AUD) to Canadian Dollar (CAD) Rate in the Forex market

According to the chart of H1, AUDCAD formed the Head and Shoulders pattern. The Head’s top is set at 0.9756 while the median line of the Neck is found at 0.9657/0.9661. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of AUDCAD will go towards 0.9621.

The Double Top pattern has been formed on AUDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9714 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDCAD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 0.9670 is broken. The further movements will rely on the width of the current pattern 12 points.

According to the chart of M15, AUDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9659 and support 0.9630. In case the resistance level 0.9659 - 0.9659 is broken, the instrument is likely to follow the bullish trend.

On the chart of AUDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9658; the lower boundary 0.9633; the width of the pattern 25 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9618 level.

On the chart of AUDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9616; the lower boundary 0.9459; the width of the pattern 157 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9419 level.

The Double Top pattern has been formed on AUDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9594 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on AUDCAD M30. Characteristics: the upper boundary 0.9614; the lower boundary 0.9594; the width of the pattern is 22 points. Sell trades are better to be opened below the lower boundary 0.9594 with a possible movements towards the 0.9564 level.

The Double Top pattern has been formed on AUDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 0.9597 is broken, the downward movement will continue.

The Bullish pennant graphic pattern has formed on the AUDCAD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 0.9580.