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

The technical pattern called Head and Shoulders has appeared on the chart of USDCAD M15. There are weighty reasons to suggest that the price will surpass the Neckline 1.4167/1.4164 after the right shoulder has been formed. So, the trend is set to change with the price heading for 1.4141.

The Triple Top pattern has formed on the chart of the USDCAD M15. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.4148/1.4167 with the upper limit 1.4177/1.4181; the projection of the width is 29 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 1.4148, the price is most likely to continue the downward movement.

The Triple Top pattern has formed on the chart of the USDCAD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.4148/1.4169 with the upper limit 1.4177/1.4176; the projection of the width is 29 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 1.4148, the price is most likely to continue the downward movement.

The Double Top pattern has been formed on USDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3939 is broken, the downward movement will continue.

According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.3949 and 1.3938 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 11 pips. Outlook: If the upper border 1.3949 is broken, the price is likely to continue its move by 1.3959.

On the chart of USDCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.3937; the lower boundary 1.3898; the width of the pattern 39 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.3883 level.

The Double Top reversal pattern has been formed on USDCAD M15. Characteristics: the upper boundary 1.3951; the lower boundary 1.3937; the width of the pattern is 14 points. Sell trades are better to be opened below the lower boundary 1.3937 with a possible movements towards the 1.3915 level.

According to the chart of M15, USDCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.3888 – 1.3888 and upper border 1.3903 – 1.3903. In case the lower border is broken, the instrument is likely to follow the downward trend.

According to the chart of M5, USDCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.3903, the lower border is 1.3888. The signal means that a short position should be opened after fixing a price below the lower border 1.3888 of the Bearish Rectangle.

According to the chart of M15, USDCAD formed the Bullish Symmetrical Triangle pattern, which signals the trend will continue. Description. The upper border of the pattern touches the coordinates 1.3852/1.3831 whereas the lower border goes across 1.3804/1.3831. The pattern width is measured on the chart at 48 pips. If the Bullish Symmetrical Triangle pattern is in progress during the upward trend, this indicates the current trend will go on. In case 1.3831 is broken, the price could continue its move toward 1.3853.