FX.co ★ Patterns USDCAD | US Dollar (USD) to the Canadian Dollar (CAD) Rate in the Forex market

The Double Bottom pattern has been formed on USDCAD M5; the upper boundary is 1.3906; the lower boundary is 1.3892. The width of the pattern is 14 points. In case of a break of the upper boundary 1.3906, 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 Top pattern has been formed on USDCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3944 is broken, the downward movement will continue.

According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.3922/1.3931 whereas the upper border goes across 1.3941/1.3931. 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 1.3946.

The Bullish Flag pattern has been formed on the chart USDCAD M15 which signals that the upward trend will continue. Signals: а break of the peak at 1.3938 may push the price higher, and the rise will be the projection of the pole.

The Bullish pennant graphic pattern has formed on the USDCAD M15 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 1.3960.

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.