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

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 1.3939 is broken, the downward movement will continue.

According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.3949 and 1.3938 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 11 pips. Outlook: If the upper border 1.3949 is broken, the price is likely to continue its move by 1.3959.

On the chart of USDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3937; the lower boundary 1.3898; the width of the pattern 39 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3883 level.

The Double Top reversal pattern has been formed on USDCAD M15. Characteristics: the upper boundary 1.3951; the lower boundary 1.3937; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 1.3937 with a possible movements towards the 1.3915 level.

According to the chart of M15, USDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3888 – 1.3888 and upper border 1.3903 – 1.3903. In case the lower border is broken, the instrument is likely to follow the downward trend.