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

According to the chart of M15, USDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3907/1.3917 whereas the upper border goes across 1.3928/1.3917. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of USDCAD will breach the upper border to head for 1.3939.

According to the chart of H1, USDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3907, the lower border is 1.3881. The signal means that a long position should be opened above the upper border 1.3907 of the Bullish Rectangle.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.3883 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -12 pips.

According to the chart of M30, USDCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3907, the lower border is 1.3881. The signal means that a long position should be opened above the upper border 1.3907 of the Bullish Rectangle.

The Double Top pattern has been formed on USDCAD H1. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3881 is broken, the downward movement will continue.