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

The Double Bottom pattern has been formed on EURCAD M5; the upper boundary is 1.4707; the lower boundary is 1.4692. The width of the pattern is 16 points. In case of a break of the upper boundary 1.4707, 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.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. This pattern signals a further downward trend in case the lower border 1.4780 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -22 pips.

The Double Bottom pattern has been formed on EURCAD M5. Characteristics: the support level 1.4793; the resistance level 1.4831; the width of the pattern 38 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 38 points.

According to the chart of M15, EURCAD formed the Bearish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: lower border 1.4839 – 1.4839 and upper border 1.4862 – 1.4862. 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 Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 1.4862 and 1.4854 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 8 pips. Outlook: If the upper border 1.4862 is broken, the price is likely to continue its move by 1.4873.

According to the chart of M5, EURCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.4816/1.4839 whereas the upper border goes across 1.4870/1.4839. 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 1.4854.

According to the chart of M15, EURCAD formed the Bullish Rectangle. The pattern indicates a trend continuation. The upper border is 1.4857, the lower border is 1.4836. The signal means that a long position should be opened above the upper border 1.4857 of the Bullish Rectangle.

The Double Top reversal pattern has been formed on EURCAD M15. Characteristics: the upper boundary 1.4857; the lower boundary 1.4836; the width of the pattern is 19 points. Sell trades are better to be opened below the lower boundary 1.4836 with a possible movements towards the 1.4813 level.

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 1.4817, 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 Bottom pattern has been formed on EURCAD M15; the upper boundary is 1.4803; the lower boundary is 1.4782. The width of the pattern is 20 points. In case of a break of the upper boundary 1.4803, 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.