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

The Double Bottom pattern has been formed on EURCAD M30. Characteristics: the support level 1.4925; the resistance level 1.4947; the width of the pattern 22 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 20 points.

The Double Bottom pattern has been formed on EURCAD M15; the upper boundary is 1.4947; the lower boundary is 1.4927. The width of the pattern is 22 points. In case of a break of the upper boundary 1.4947, 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 Bullish Rectangle which is a pattern of a trend continuation. The pattern is contained within the following borders: the lower border 1.5040 – 1.5040 and upper border 1.5054 – 1.5054. In case the upper border is broken, the instrument is likely to follow the upward 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 1.5000, where we advise to open a trading position for sale. Take profit is the projection of the pattern’s width, which is 31 points.

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 1.5000 is broken, the downward movement will continue.

According to the chart of M5, EURCAD formed the Bearish Symmetrical Triangle pattern. Description: The lower border is 1.4994/1.5000 and upper border is 1.5006/1.5000. The pattern width is measured on the chart at -12 pips. The formation of the Bearish Symmetrical Triangle pattern evidently signals a continuation of the downward trend. In other words, if the scenario comes true and EURCAD breaches the lower border, the price could continue its move toward 1.4985.

According to the chart of M5, EURCAD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.5005 - 0.0000 and support 1.4994 – 1.4994. In case the resistance level 1.4994 - 1.4994 is broken, the instrument is likely to follow the bearish 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 1.4933 is broken. The further movements will rely on the width of the current pattern 10 points.

According to the chart of M5, EURCAD formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 1.4933, the lower border is 1.4924. The signal means that a short position should be opened after fixing a price below the lower border 1.4924 of the Bearish Rectangle.

The Triple Bottom pattern has formed on the chart of the EURCAD M15 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.4949/1.4932.