FX.co ★ Modèles réels. Analyse technique et recommandations de trading

The Double Bottom pattern has been formed on EURCAD M5; the upper boundary is 1.4707; the lower boundary is 1.4692. The width of the pattern is 16 points. In case of a break of the upper boundary 1.4707, a change in the trend can be predicted where the width of the pattern will coincide with the distance to a possible take profit level.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.4780 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -22 pips.

The Double Bottom pattern has been formed on EURCAD M5. Characteristics: the support level 1.4793; the resistance level 1.4831; the width of the pattern 38 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 38 points.

According to the chart of M15, EURCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.4839 – 1.4839 and upper border 1.4862 – 1.4862. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, EURCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.4862 and 1.4854 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 8 pips. Outlook: If the upper border 1.4862 is broken, the price is likely to continue its move by 1.4873.