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

According to the chart of M5, EURCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.5247 and support 1.5209. In case the resistance level 1.5247 - 1.5247 is broken, the instrument is likely to follow the bullish trend.

The Triple Top pattern has formed on the chart of the EURCAD M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level -6, support level -16, and pattern’s width 43. Forecast If the price breaks through the support level 1.5078, it is likely to move further down to 1.5114.

The Double Top reversal pattern has been formed on EURCAD M15. Characteristics: the upper boundary 1.5051; the lower boundary 1.5037; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 1.5037 with a possible movements towards the 1.5014 level.

According to the chart of M5, EURCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.5031/1.5040 whereas the upper border goes across 1.5051/1.5040. 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 EURCAD will breach the upper border to head for 1.5055.

The Bullish pennant pattern is formed on the EURCAD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.5040, a further uptrend is possible.

The Double Bottom pattern has been formed on EURCAD H1. Characteristics: the support level 1.4996; the resistance level 1.5027; the width of the pattern 31 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 31 points.

The Double Bottom pattern has been formed on EURCAD M5. Characteristics: the support level 1.5006; the resistance level 1.5020; the width of the pattern 14 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 15 points.

According to the chart of M5, EURCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.5005 while the median line of the Neck is set at 1.5016/1.5016. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of EURCAD will go towards 1.5031.

The Double Bottom pattern has been formed on EURCAD M30. 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 1.5068 is broken. The further movements will rely on the width of the current pattern 61 points.

The Triple Bottom pattern has formed on the chart of the EURCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.5030/1.5026.