signal strength 2 of 5
According to the chart of M15, EURCAD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.5581 while the median line of the Neck is set at 1.5628/1.5621. 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 EURCAD will go towards 1.5644.
The M5 and M15 time frames may have more false entry points.
See Also
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- Flag
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- Pennant
- Rectangle
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- Triple top
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- AUDCAD
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- EURCAD
- EURCHF
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- EURJPY
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- EURUSD
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- GBPCHF
- GBPJPY
- GBPUSD
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The Triple Bottom pattern has been formed on GBPUSD M30. It has the following characteristics: resistance level 1.3440/1.3437; support level 1.3399/1.3404; the width is 41 points. In the event
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The Double Top pattern has been formed on USDCAD M15. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 1.3755
The M5 and M15 time frames may have more false entry points.
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The Double Bottom pattern has been formed on AUDUSD M5. Characteristics: the support level 0.6401; the resistance level 0.6409; the width of the pattern 8 points. If the resistance level
The M5 and M15 time frames may have more false entry points.
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