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

According to the chart of M30, USDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.4267, the lower border is 1.4251. The signal means that a long position should be opened above the upper border 1.4267 of the Bullish Rectangle.

The Double Top pattern has been formed on USDCAD M30. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.4252 is broken, the downward movement will continue.

The Double Bottom pattern has been formed on USDCAD H1. Characteristics: the support level 1.4149; the resistance level 1.4202; the width of the pattern 53 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 59 points.

The Double Top reversal pattern has been formed on USDCAD M5. Characteristics: the upper boundary 1.4201; the lower boundary 1.4189; the width of the pattern is 12 points. Sell trades are better to be opened below the lower boundary 1.4189 with a possible movements towards the 1.4174 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 1.4188 – 1.4188 and upper border 1.4202 – 1.4202. In case the upper border is broken, the instrument is likely to follow the upward trend.