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

The Double Bottom pattern has been formed on USDCAD H1. 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 1.3659 is broken. The further movements will rely on the width of the current pattern 23 points.

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 1.3660 is broken. The further movements will rely on the width of the current pattern 11 points.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3649/1.3656 and upper border is 1.3665/1.3656. The pattern width is measured on the chart at -16 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and USDCAD breaches the lower border, the price could continue its move toward 1.3641.

On the chart of USDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3729; the lower boundary 1.3711; the width of the pattern 18 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3696 level.

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.