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

The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.3853; the lower boundary is 1.3839. The width of the pattern is 14 points. In case of a break of the upper boundary 1.3853, 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 USDCAD 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 1.3844 is broken. The further movements will rely on the width of the current pattern 17 points.

According to the chart of M15, USDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.3848/1.3836 whereas the lower border goes across 1.3821/1.3836. The pattern width is measured on the chart at 27 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.3836 is broken, the price could continue its move toward 1.3858.

The Double Top pattern has been formed on USDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3835 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on USDCAD M15; the upper boundary is 1.3801; the lower boundary is 1.3791. The width of the pattern is 11 points. In case of a break of the upper boundary 1.3801, 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 Bearish Flag pattern has been formed on the chart USDCAD D1 which signals that the downward trend will continue. If the price breaks below the low at 1.3767, then it is most likely to move further downwards. The price will likely move by the number of points which equals the length of the flag pole (20 points).

The Bearish pennant pattern has formed on the USDCAD D1 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.3767; the projection of the flagpole height is equal to 528 pips. In case the price breaks out the pattern’s bottom of 1.3767, the downtrend is expected to continue for further level 1.3727.

On the chart of USDCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3895; the lower boundary 1.3852; the width of the pattern 43 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3829 level.

The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.3916; the lower boundary is 1.3903. The width of the pattern is 13 points. In case of a break of the upper boundary 1.3916, 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 Bullish Flag pattern has been formed on USDCAD at M5. The lower boundary of the pattern is located at 1.3870/1.3862, while the higher boundary lies at 1.3876/1.3868. The projection of the flagpole is 16 points. This formation signals that the upward trend is most likely to continue. Therefore, if the level of 1.3876 is broken, the price will move further upwards.