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

According to the chart of M5, EURCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.5997, the lower border is 1.5988. The signal means that a long position should be opened above the upper border 1.5997 of the Bullish Rectangle.

According to the chart of D1, EURCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.5614 is likely to encourage a continuation of the downward trend.

The Double Top reversal pattern has been formed on EURCAD M5. Characteristics: the upper boundary 1.5997; the lower boundary 1.5988; the width of the pattern is 9 points. Sell trades are better to be opened below the lower boundary 1.5988 with a possible movements towards the 1.5973 level.

The Double Top pattern has been formed on GBPAUD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.8652 is broken, the downward movement will continue.

On the chart of GBPAUD M30 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.8687; the lower boundary 1.8652; the width of the pattern 35 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.8622 level.