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

The Double Bottom pattern has been formed on EURCAD M5; the upper boundary is 1.4808; the lower boundary is 1.4797. The width of the pattern is 11 points. In case of a break of the upper boundary 1.4808, 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 Triple Top pattern has formed on the chart of the EURCAD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.4780/1.4803 with the upper limit 1.4817/1.4818; the projection of the width is 37 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.4780, the price is most likely to continue the downward movement.

According to the chart of M15, EURCAD formed the Bullish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.4814 and support 1.4802. In case the resistance level 1.4814 - 1.4814 is broken, the instrument is likely to follow the bullish trend.

On the chart of the EURCAD M5 trading instrument, the Triple Top pattern that signals a trend change has formed. It is possible that after formation of the third peak, the price will try to break through the resistance level 1.4802, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 11 points.

The Double Top reversal pattern has been formed on EURCAD M5. Characteristics: the upper boundary 1.4775; the lower boundary 1.4765; the width of the pattern is 10 points. Sell trades are better to be opened below the lower boundary 1.4765 with a possible movements towards the 1.4750 level.

According to the chart of M30, EURCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.4776 and 1.4738 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 38 pips. Outlook: If the upper border 1.4776 is broken, the price is likely to continue its move by 1.4784.

According to the chart of M5, EURCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.4742 – 1.4742 and upper border 1.4753 – 1.4753. 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 Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.4776 and support 1.4759. In case the resistance level 1.4776 - 1.4776 is broken, the instrument is likely to follow the bullish trend.

On the chart of EURCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.4746; the lower boundary 1.4734; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.4712 level.

On the chart of EURCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.4746; the lower boundary 1.4734; the width of the pattern 12 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.4719 level.