FX.co ★ Patterns EURCAD | Euro (EUR) to Canadian Dollar (CAD) Rate in the Forex market

On the chart of EURCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5746; the lower boundary 1.5712; the width of the pattern 34 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5690 level.

On the chart of EURCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5704; the lower boundary 1.5659; the width of the pattern 45 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5644 level.

The Bullish Flag pattern which signals continuation of a trend has been formed on the chart EURCAD M5. Forecast: if the price breaks above the pattern high at 1.5658, then traders will be able to place a long deal with the target at 1.5673.

The Bullish pennant graphic pattern has formed on the EURCAD 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 1.5673.

According to the chart of M5, EURCAD formed the Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.5606 – 1.5606 and upper border 1.5636 – 1.5636. In case the upper border is broken, the instrument is likely to follow the upward trend.

The Double Bottom pattern has been formed on EURCAD M30. 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 1.5571 is broken. The further movements will rely on the width of the current pattern 38 points.

The EURCAD M5 formed the Head and Shoulders pattern with the following features: The Head’s top is at 1.5734, the Neckline and the upward angle are at 1.5652/1.5644. The formation of this pattern can bring about changes in the current trend from bullish to bearish. In case the pattern triggers the expected changes, the price of EURCAD will go towards 1.5629.

On the chart of EURCAD M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.5628; the lower boundary 1.5565; the width of the pattern 63 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.5550 level.

According to the chart of M30, EURCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.5415/1.5608 whereas the upper border goes across 1.5743/1.5608. 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 EURCAD will breach the upper border to head for 1.5638.

The Double Top pattern has been formed on EURCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.5641 is broken, the downward movement will continue.