FX.co ★ Patterns USDCAD | US Dollar (USD) to the Canadian Dollar (CAD) Rate in the Forex market

On the chart of USDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3702; the lower boundary 1.3668; the width of the pattern 34 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3645 level.

According to the chart of M15, USDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.3741 and 1.3692 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 49 pips. Outlook: If the upper border 1.3741 is broken, the price is likely to continue its move by 1.3742.

The Double Top pattern has been formed on USDCAD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3722 is broken, the downward movement will continue.

The Double Top reversal pattern has been formed on USDCAD M15. Characteristics: the upper boundary 1.3738; the lower boundary 1.3722; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 1.3722 with a possible movements towards the 1.3700 level.

The Bearish pennant pattern has formed on the USDCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.3679; the projection of the flagpole height is equal to 23 pips. In case the price breaks out the pattern’s bottom of 1.3679, the downtrend is expected to continue for further level 1.3664.

According to the chart of M5, USDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3824 and support 1.3817. In case the resistance level 1.3824 - 1.3824 is broken, the instrument is likely to follow the bullish trend.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart USDCAD M15. Forecast: if the price breaks above the pattern high at 1.3827, then traders will be able to place a long deal with the target at 1.3850.

The Bullish pennant signal – Trading instrument USDCAD M15, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.3827, with the prospect of the next move being a projection of the flagpole height.

According to the chart of M15, USDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3834, the lower border is 1.3816. The signal means that a short position should be opened after fixing a price below the lower border 1.3816 of the Bearish Rectangle.

According to the chart of M5, USDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3816 – 1.3816 and upper border 1.3834 – 1.3834. In case the lower border is broken, the instrument is likely to follow the downward trend.