FX.co ★ Patterns AUDUSD | Australian Dollar (AUD) to US Dollar (USD) Rate in the Forex market

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 0.6534, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M15, AUDUSD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.6524, the lower border is 0.6510. The signal means that a long position should be opened above the upper border 0.6524 of the Bullish Rectangle.

The Double Bottom pattern has been formed on AUDUSD M5; the upper boundary is 0.6506; the lower boundary is 0.6501. The width of the pattern is 6 points. In case of a break of the upper boundary 0.6506, 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.

On the chart of AUDUSD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.6517; the lower boundary 0.6498; the width of the pattern 19 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.6483 level.

According to the chart of M5, AUDUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 0.6500/0.6511 whereas the upper border goes across 0.6525/0.6511. 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 0.6526.

According to the chart of H1, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6441 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -44 pips.

According to the chart of H1, AUDUSD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 0.6441 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -44 pips.

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 0.6468 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.6444; the resistance level 0.6454; the width of the pattern 10 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 9 points.

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 0.6462/0.6464 with the upper limit 0.6468/0.6469; the projection of the width is 6 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 0.6462, the price is most likely to continue the downward movement.