Possible Bear flag in USDCAD

49 0 8
17 days ago
After the sharp move down in the beginning of the year, USDCAD             broke out of the trend and created an upward channel. It has recently tested the 50% Fib and sellers responded immediately as seen by the purple candle. Pattern looks like a bear flag although we are still miles away from confirming it. A break of the lower bound of the channel is needed to confirm it
16 days ago
Comment: Hit the Mara to the tick (purple line) and reversed
16 days ago
Comment: Pardon me I meant to the pip. Used to futures analysis
16 days ago
Comment: Entering an area of support ( cluster of highs). Next support comes in at 1.33 area (38.2% Fib) and critical support around 1.3280 area (previous support, Mara, and swing lows)
15 days ago
Comment: Bounced off support as previously discussed and near swing highs. Watch out for a stop run above previous swing highs at 1.3589
11 days ago
Comment: USDCAD needs a close below the small trendline for a move lower in our opinion
2 days ago
Comment: Broke inside day lows
Disclaimer: Ideas and reports for educational purposes only. Not investment advice.

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