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The Bullish pennant graphic pattern has formed on the USDCAD M5 instrument. This pattern type falls under the category of continuation patterns. In this case, if the quote can breaks out high, is expected to continue the upward trend to level 1.3801.

The Bullish pennant signal – Trading instrument USDCAD M5, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 1.3784, with the prospect of the next move being a projection of the flagpole height.

The Bullish pennant pattern is formed on the USDCAD H1 chart. It is a type of the continuation pattern. Supposedly, in case the price is fixed above the pennant’s high of 1.3800, a further uptrend is possible.

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.