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

The Double Top reversal pattern has been formed on USDCAD M5. Characteristics: the upper boundary 1.3679; the lower boundary 1.3669; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 1.3669 with a possible movements towards the 1.3654 level.

According to the chart of D1, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3539/1.3666 and upper border is 1.3804/1.3666. The pattern width is measured on the chart at -265 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 1.3626.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.3561/1.3576 and upper border is 1.3590/1.3576. The pattern width is measured on the chart at -29 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 1.3561.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.3555 is likely to encourage a continuation of the downward trend.

According to the chart of M5, USDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3555 – 1.3555 and upper border 1.3571 – 1.3571. In case the lower border is broken, the instrument is likely to follow the downward trend.