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FX.co ★ USDCAD M5: Bearish Rectangle

USDCAD M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, USDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.2302 – 1.2302 and upper border 1.2310 – 1.2310. In case the lower border is broken, the instrument is likely to follow the downward trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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