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

The Triple Bottom pattern has been formed on EURCAD M5. It has the following characteristics: resistance level 1.4649/1.4647; support level 1.4642/1.4642; the width is 7 points. In the event of a breakdown of the resistance level of 1.4649, the price is likely to continue an upward movement at least to 1.4656.

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 1.4649 is broken. The further movements will rely on the width of the current pattern 7 points.

The technical pattern called Head and Shoulders has appeared on the chart of EURCAD M5. There are weighty reasons to suggest that the price will surpass the Neckline 1.4663/1.4661 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.4646.

The Double Bottom pattern has been formed on EURCAD H1; the upper boundary is 1.4665; the lower boundary is 1.4644. The width of the pattern is 22 points. In case of a break of the upper boundary 1.4665, 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 H1. Characteristics: the support level 1.4643; the resistance level 1.4665; the width of the pattern 22 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 21 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 1.4660 - 0.0000 and support 1.4651 – 1.4651. In case the resistance level 1.4651 - 1.4651 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, EURCAD formed the Inverse Head and Shoulder pattern. The Head’s top is set at 1.4669 while the median line of the Neck is found at 1.4657/1.4663. The formation of the Inverse Head and Shoulder pattern evidently signals a reversal of the downward trend. In other words, in case the scenario comes true, the price of EURCAD will go towards 1.4684

The Triple Bottom pattern has formed on the chart of the EURCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.4687/1.4685.

The Double Bottom pattern has been formed on EURCAD M5; the upper boundary is 1.4687; the lower boundary is 1.4677. The width of the pattern is 11 points. In case of a break of the upper boundary 1.4687, 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.

According to the chart of H1, EURCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.4615 while the median line of the Neck is set at 1.4663/1.4655. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of EURCAD will go towards 1.4695.