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The EURCAD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.6098, the Neckline and the upward angle are at 1.6087/1.6086. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of EURCAD will go towards 1.6071.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.6088/1.6092 and upper border is 1.6097/1.6092. The pattern width is measured on the chart at -9 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 EURCAD breaches the lower border, the price could continue its move toward 1.6077.

The Double Bottom pattern has been formed on EURCAD M30. Characteristics: the support level 1.6035; the resistance level 1.6053; the width of the pattern 18 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 20 points.

According to the chart of M5, EURCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.6066 and 1.6054 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 12 pips. Outlook: If the upper border 1.6066 is broken, the price is likely to continue its move by 1.6076.

The Bullish pennant graphic pattern has formed on the EURCAD M15 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.6080.