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

The Bullish pennant pattern is formed on the EURCAD M5 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.5614, a further uptrend is possible.

On the chart of the EURCAD 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 1.5578, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 33 points.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.5576 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -36 pips.

The Double Bottom pattern has been formed on EURCAD M15. Characteristics: the support level 1.5614; the resistance level 1.5628; the width of the pattern 14 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 15 points.

According to the chart of M5, EURCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.5637 - 0.0000 and support 1.5628 – 1.5628. In case the resistance level 1.5628 - 1.5628 is broken, the instrument is likely to follow the bearish trend.