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

On the chart of AUDUSD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7127; the lower boundary 0.7105; the width of the pattern 22 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7082 level.

On the chart of the AUDUSD M5 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 0.7094, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 26 points.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.7120; the lower boundary 0.7108; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.7093 level.

The Double Top reversal pattern has been formed on AUDUSD M15. Characteristics: the upper boundary 0.7082; the lower boundary 0.7068; the width of the pattern is 13 points. Sell trades are better to be opened below the lower boundary 0.7068 with a possible movements towards the 0.7046 level.

The Triple Top pattern has formed on the chart of the AUDUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 0.7064/0.7071 with the upper limit 0.7079/0.7082; the projection of the width is 15 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 0.7064, the price is most likely to continue the downward movement.

According to H1, AUDUSD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.7031/0.7023 is broken out, the instrument is likely to move toward 0.7063.

On the chart of the AUDUSD M5 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 0.7010, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 20 points.

The Double Bottom pattern has been formed on AUDUSD H1. Characteristics: the support level 0.6975; the resistance level 0.7048; the width of the pattern 73 points. If the resistance level is broken, a change in the trend can be predicted with the first target point lying at the distance of 70 points.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.7041 and 0.7026 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 15 pips. Outlook: If the upper border 0.7041 is broken, the price is likely to continue its move by 0.7048.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 0.7082/0.7076 whereas the lower border goes across 0.7070/0.7076. The pattern width is measured on the chart at 12 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 0.7076 is broken, the price could continue its move toward 0.7091.