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VanSteenMarketResearch

USD/CAD flag pattern; fundamental breakout expected

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
VanSteenMarketResearch Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Flag FLAG pattern breakout USDCAD dollar CAD USD
2
0
trendanalysis chartpattern flagpattern flag pattern breakout usdcad dollar cad usd
Really nice looking flag pattern on the 1H chart of USD/CAD.
Only problem is that those moves are mainly caused by high volatility fundamental moves, and they are difficult to catch.
Plus the fact that another big fundamental piece of news is about to be released within the next 3 hours (NFP).

Anyways, the technicals are there.

1.30 break , aim for 1.31 then.
Comment:
NFP date came out with not so much volatility, but enough to push it to a fake breakout.

Again, I would not have traded this, purely because of the volatility during a news event. This is just a potential setup based on purely technical analysis, sometimes they perfectly match up during news releases, sometimes not.
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