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 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 1.3977 is broken. The further movements will rely on the width of the current pattern 23 points.

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 1.3951 is breached. Here, a hypothetical profit will equal the width of the available pattern that is -63 pips.

The Double Bottom pattern has been formed on USDCAD 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 1.3966 is broken. The further movements will rely on the width of the current pattern 16 points.

The Double Bottom pattern has been formed on USDCAD H1. Characteristics: the support level 1.3950; the resistance level 1.3966; the width of the pattern 16 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 16 points.

According to the chart of M5, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.4002 is likely to encourage a continuation of the downward trend.

According to the chart of M15, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.4003 is likely to encourage a continuation of the downward trend.

According to the chart of M30, USDCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.4003 is likely to encourage a continuation of the downward trend.

According to the chart of M15, USDCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.4008 while the median line of the Neck is set at 1.4023/1.4023. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of USDCAD will go towards 1.4045.

The Triple Top pattern has formed on the chart of the USDCAD M30. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.4069/1.4083 with the upper limit 1.4104/1.4100; the projection of the width is 35 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 1.4069, the price is most likely to continue the downward movement.

According to the chart of M5, USDCAD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.4082/1.4094 whereas the upper border goes across 1.4102/1.4094. 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 1.4109.