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

The Double Bottom pattern has been formed on USDCAD H1. Characteristics: the support level 1.4371; the resistance level 1.4448; the width of the pattern 77 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 72 points.

The Double Bottom pattern has been formed on USDCAD M15; the upper boundary is 1.4396; the lower boundary is 1.4376. The width of the pattern is 20 points. In case of a break of the upper boundary 1.4396, 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.

The Double Bottom pattern has been formed on USDCAD M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 1.4396 is broken. The further movements will rely on the width of the current pattern 20 points.

The Bearish pennant pattern has formed on the USDCAD M30 chart. This pattern type is characterized by a slight slowdown after which the price will move in the direction of the original trend. In case the price fixes below the pattern’s low of 1.4368, a trader will be able to successfully enter the sell position.

The Double Bottom pattern has been formed on USDCAD M5. Characteristics: the support level 1.4377; the resistance level 1.4391; the width of the pattern 14 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 15 points.