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

According to the chart of M5, USDCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.3675 – 1.3675 and upper border 1.3681 – 1.3681. In case the upper border is broken, the instrument is likely to follow the upward trend.

On the chart of USDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3681; the lower boundary 1.3675; the width of the pattern 6 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3660 level.

According to the chart of M15, USDCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3664 - 0.0000 and support 1.3657 – 1.3657. In case the resistance level 1.3657 - 1.3657 is broken, the instrument is likely to follow the bearish trend.

The Double Bottom pattern has been formed on USDCAD H1. Characteristics: the support level 1.3714; the resistance level 1.3738; the width of the pattern 24 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 24 points.

The Double Bottom pattern has been formed on USDCAD M30; the upper boundary is 1.3738; the lower boundary is 1.3714. The width of the pattern is 24 points. In case of a break of the upper boundary 1.3738, 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 Top pattern has been formed on USDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3763 is broken, the downward movement will continue.

According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3761/1.3769 whereas the upper border goes across 1.3780/1.3769. 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 USDCAD will breach the upper border to head for 1.3784.

According to M30, USDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3758/1.3760 is broken out, the instrument is likely to move toward 1.3790.

According to M15, USDCAD is shaping the technical pattern – the Inverse Head and Shoulder. In case the Neckline 1.3758/1.3758 is broken out, the instrument is likely to move toward 1.3780.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3759 is likely to encourage a continuation of the downward trend.