FX.co ★ Patterns EURCAD | Euro (EUR) to Canadian Dollar (CAD) Rate in the Forex market

According to the chart of M30, EURCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.6017 – 1.6017 and upper border 1.6038 – 1.6038. In case the upper border is broken, the instrument is likely to follow the upward trend.

According to the chart of M15, EURCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.6017 – 1.6017 and upper border 1.6038 – 1.6038. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Top pattern has been formed on EURCAD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.6019 is broken, the downward movement will continue.

The Double Top pattern has been formed on EURCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.6019 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on EURCAD M5. Characteristics: the support level 1.5936; the resistance level 1.5947; the width of the pattern 11 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 10 points.

The Double Bottom pattern has been formed on EURCAD M5. 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 1.6000 is broken. The further movements will rely on the width of the current pattern 40 points.

According to the chart of M15, EURCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.6069 - 0.0000 and support 1.6030 – 1.6030. In case the resistance level 1.6030 - 1.6030 is broken, the instrument is likely to follow the bearish trend.

The Bearish pennant pattern has formed on the EURCAD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.6038; the projection of the flagpole height is equal to 22 pips. In case the price breaks out the pattern’s bottom of 1.6038, the downtrend is expected to continue for further level 1.6023.

On the chart of EURCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.6108; the lower boundary 1.6092; the width of the pattern 16 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.6070 level.

The Double Top reversal pattern has been formed on EURCAD M30. Characteristics: the upper boundary 1.6112; the lower boundary 1.6095; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 1.6095 with a possible movements towards the 1.6065 level.