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

On the chart of AUDCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9110; the lower boundary 0.9089; the width of the pattern 21 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9059 level.

The Bearish Flag pattern has been formed on AUDCAD at M5. The lower boundary of the pattern is located at 0.9087/0.9091 while the upper boundary lies at 0.9091/0.9095. The projection of the flagpole is 16 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.9087 is broken, the price will move further downwards.

The Bearish pennant pattern has formed on the AUDCAD M5 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 0.9087, a trader will be able to successfully enter the sell position.

According to the chart of M5, AUDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 0.9108 and 0.9088 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 20 pips. Outlook: If the upper border 0.9108 is broken, the price is likely to continue its move by 0.9111.

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 0.9093 is broken, the downward movement will continue.

According to the chart of M5, AUDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9101, the lower border is 0.9093. The signal means that a long position should be opened above the upper border 0.9101 of the Bullish Rectangle.

The Double Bottom pattern has been formed on AUDCAD M15. 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 0.9091 is broken. The further movements will rely on the width of the current pattern 14 points.

The Double Bottom pattern has been formed on AUDCAD M15; the upper boundary is 0.9090; the lower boundary is 0.9078. The width of the pattern is 13 points. In case of a break of the upper boundary 0.9090, 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 Double Top reversal pattern has been formed on AUDCAD M15. Characteristics: the upper boundary 0.9120; the lower boundary 0.9113; the width of the pattern is 7 points. Sell trades are better to be opened below the lower boundary 0.9113 with a possible movements towards the 0.9090 level.

According to M5, AUDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 0.9094/0.9093 is broken out, the instrument is likely to move toward 0.9108.