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

The Bullish Flag pattern has been formed on EURCAD at M15. The lower boundary of the pattern is located at 1.6031/1.6031, while the higher boundary lies at 1.6037/1.6037. The projection of the flagpole is 34 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 1.6037 is broken, the price will move further upwards.

The Double Top reversal pattern has been formed on EURCAD M30. Characteristics: the upper boundary 1.6023; the lower boundary 1.6001; the width of the pattern is 20 points. Sell trades are better to be opened below the lower boundary 1.6001 with a possible movements towards the 1.5971 level.

On the chart of EURCAD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.6021; the lower boundary 1.6001; the width of the pattern 20 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5971 level.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.5963 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -37 pips.

On the chart of EURCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5993; the lower boundary 1.5987; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5972 level.

The Double Bottom pattern has been formed on EURCAD H1; the upper boundary is 1.5969; the lower boundary is 1.5950. The width of the pattern is 21 points. In case of a break of the upper boundary 1.5969, 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 Bottom pattern has been formed on EURCAD M30. Characteristics: the support level 1.5948; the resistance level 1.5969; the width of the pattern 21 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 19 points.

The Bullish pennant signal – Trading instrument EURCAD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.5964, with the prospect of the next move being a projection of the flagpole height.

The Bearish Flag pattern has been formed on the chart EURCAD M5. Therefore, the downwards trend is likely to continue in the nearest term. As soon as the price breaks below the low at 1.5971, traders should enter the market.

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 1.5971; the projection of the flagpole height is equal to 28 pips. In case the price breaks out the pattern’s bottom of 1.5971, the downtrend is expected to continue for further level 1.5956.