USD/CAD – Bearish flag pattern

FX:USDCAD   U.S. Dollar / Canadian Dollar
Pair’s bearish flag pattern breakout on Aug 16 followed by a re-test and failure to re-enter flag formation this week suggests a fresh sell-off to Aug 18 low of 1.2764 is likely, where a violation would prove fatal and open doors for 1.2460 (recent cyclical low).

Only a day end close above 1.30 (multiple daily lows in late April/early Aug) would suggest bearish invalidation.

Craig Erlam, Senior Market Analyst at Oanda, who joined us on today’s finance show (see here - Opec action unlikely, 1.30 a make or break level for CAD - https://www.youtube.com/watch?v=wK8thq4-53o & www.tiptv.co.uk) also noted 1.30 as a make or break level for the USD/CAD             pair.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out