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

The Triple Top pattern has formed on the chart of the USDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3767/1.3773 with the upper limit 1.3780/1.3782; the projection of the width is 13 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.3767, the price is most likely to continue the downward movement.

According to the chart of M5, USDCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.3759 and support 1.3750. In case the resistance level 1.3759 - 1.3759 is broken, the instrument is likely to follow the bullish trend.

On the chart of the USDCAD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.3725, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 28 points.

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 1.3750 is broken, the downward movement will continue.

The Triple Top pattern has formed on the chart of the USDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.3725/1.3733 with the upper limit 1.3753/1.3752; the projection of the width is 28 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.3725, the price is most likely to continue the downward movement.

The Double Bottom pattern has been formed on USDCAD H1; the upper boundary is 1.3694; the lower boundary is 1.3631. The width of the pattern is 61 points. In case of a break of the upper boundary 1.3694, 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 M30. 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 1.3694 is broken. The further movements will rely on the width of the current pattern 61 points.

The Bearish pennant pattern has formed on the USDCAD H1 chart. The pattern signals continuation of the downtrend in case the pennant’s low of 1.3641 is broken through. Recommendations: Place the sell stop pending order 10 pips below the pattern’s low. Place the take profit order at the projection distance of the flagpole height.

The Triple Bottom pattern has been formed on USDCAD M5. It has the following characteristics: resistance level 1.3669/1.3659; support level 1.3652/1.3650; the width is 17 points. In the event of a breakdown of the resistance level of 1.3669, the price is likely to continue an upward movement at least to 1.3667.

The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.3669; the lower boundary is 1.3652. The width of the pattern is 17 points. In case of a break of the upper boundary 1.3669, 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.