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

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.4022/1.4037 and upper border is 1.4055/1.4037. The pattern width is measured on the chart at -33 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 1.4022.

The Triple Bottom pattern has formed on the chart of the USDCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.4093/1.4091.

On the chart of USDCAD H1 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.4125; the lower boundary 1.4110; the width of the pattern 15 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.4070 level.

The Double Top reversal pattern has been formed on USDCAD H1. Characteristics: the upper boundary 1.4127; the lower boundary 1.4110; the width of the pattern is 15 points. Sell trades are better to be opened below the lower boundary 1.4110 with a possible movements towards the 1.4070 level.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.4110 is likely to encourage a continuation of the downward trend.