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 1.4790; the lower boundary is 1.4782. The width of the pattern is 9 points. In case of a break of the upper boundary 1.4790, 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 EURCAD M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.4782 is broken, the downward movement will continue.

The Triple Bottom pattern has been formed on EURCAD M30. It has the following characteristics: resistance level 1.4771/1.4750; support level 1.4726/1.4726; the width is 45 points. In the event of a breakdown of the resistance level of 1.4771, the price is likely to continue an upward movement at least to 1.4761.

The Triple Bottom pattern has been formed on EURCAD M15. It has the following characteristics: resistance level 1.4771/1.4750; support level 1.4726/1.4726; the width is 45 points. In the event of a breakdown of the resistance level of 1.4771, the price is likely to continue an upward movement at least to 1.4754.

According to the chart of M30, EURCAD formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 1.4726 is likely to encourage a continuation of the downward trend.

The Double Bottom pattern has been formed on EURCAD M5. Characteristics: the support level 1.4732; the resistance level 1.4743; the width of the pattern 11 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 12 points.

The Double Bottom pattern has been formed on EURCAD M15. Characteristics: the support level 1.4768; the resistance level 1.4787; the width of the pattern 19 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 21 points.

The Triple Bottom pattern has formed on the chart of the EURCAD M5 trading instrument. The pattern signals a change in the trend from downwards to upwards in the case of breakdown of 1.4793/1.4787.

The Double Bottom pattern has been formed on EURCAD M5. 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 1.4793 is broken. The further movements will rely on the width of the current pattern 19 points.

On the chart of EURCAD M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 1.4797; the lower boundary 1.4777; the width of the pattern 20 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 1.4755 level.