FOREX Analysis: Double Bottom & Descending Triangle

ChartSecret

Master Trader
Jun 26, 2009
91
1
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www.chartsecret.com
usdcad-double-bottom-11-09-09.jpg


Two very nice patterns has appeared today on the USD\CAD and EUR\TRY. First one is the Double Bottom at the USD\CAD - a very precise pattern that signals the beginning of an uptrend. Pattern's size is 30 pips and this is the projected profit from the Long trade.

EUR\TRY has created a possible Descending Triangle that can signal a bearish movement upon a breakout of its neckline.

Full Analysis:
http://www.chartsecret.com/content/double-bottom-and-descending-triangle