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

USDCAD M5

Double Bottom
The Double Bottom pattern has been formed on USDCAD 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 1.2837 is broken. The further movements will rely on the width of the current pattern 10 points.
2022-05-20

USDCAD M30

Bearish Symmetrical Triangle
According to the chart of M30, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.2782 is likely to encourage a continuation of the downward trend.
2022-05-19

USDCAD M15

Bearish Symmetrical Triangle
According to the chart of M15, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2782/1.2810 and upper border is 1.2831/1.2810. The pattern width is measured on the chart at -49 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.
2022-05-19

USDCAD M15

Bearish Symmetrical Triangle
According to the chart of M15, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.2782/1.2804 and upper border is 1.2833/1.2804. The pattern width is measured on the chart at -51 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.
2022-05-19

USDCAD M5

Triple Top
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 1.2812, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.
2022-05-19

USDCAD M5

Inverse Head and Shoulder
According to the chart of M5, USDCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.2788 while the median line of the Neck is set at 1.2816/1.2813. 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 USDCAD will go towards 1.2828.
2022-05-19

USDCAD M5

Triple Top
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 1.2803/1.2811 with the upper limit 1.2827/1.2828; the projection of the width is 24 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 1.2803, the price is most likely to continue the downward movement.
2022-05-19

USDCAD M5

Double Bottom
The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.2868; the lower boundary is 1.2860. The width of the pattern is 8 points. In case of a break of the upper boundary 1.2868, 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.
2022-05-19

USDCAD M5

Double Top
On the chart of USDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.2849; the lower boundary 1.2838; the width of the pattern 11 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.2823 level.
2022-05-18

USDCAD H1

Triple Bottom
The Triple Bottom pattern has formed on the chart of USDCAD H1. Features of the pattern: The lower line of the pattern has coordinates 1.2857 with the upper limit 1.2857/1.2840, the projection of the width is 52 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 1.2805, the price is most likely to continue the upward movement.
2022-05-18