CADUSD, Possible FLAG-FORMATION In The MAKING!

Hello,

Welcome to this analysis about CADUSD on the daily timeframe perspectives. As when looking at my chart we can watch there that CADUSD already initiated a bearish development with the first impulse wave A into the bearish direction. From there on CADUSD showed up with this channel-formation in which it is also forming a local wave-count which is actually building the global wave B of the wave-count to the downside. As CADUSD now heavily pulled back off the upper boundary of the channel formation and already forms the pullbacks below the 400- as well as 800-EMA there is a high possibility given that the whole channel-formation will be completed as a bear-flag if CADUSD moves finally below the lower boundary of the channel and shows up with a similar confirmation-formation as it is seen in my chart. Once the whole channel-formation has been completed as a bear-flag it will activate the lower target zones seen in my chart, once these have been reached the situation needs to be elevated again, it will be an interesting development.

In this manner, thank you for watching the analysis, all the best!
"Trading effectively is about assessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the markets.

Comment:

ANALYSIS UPDATE: CADUSD accelerated the major bearish range breakout to continue with the confirmational setup below the lower boundary.

CADUSD after completing the confirmational range setup accelerated the bearish momentum to reach all of the final target zones.