TradingTechs

Possible Bear flag in USDCAD

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
140 0 13
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
Comment: Hit the Mara to the tick (purple line) and reversed
Comment: Pardon me I meant to the pip. Used to futures analysis
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)
Comment: Bounced off support as previously discussed and near swing highs. Watch out for a stop run above previous swing highs at 1.3589
Comment: USDCAD needs a close below the small trendline for a move lower in our opinion
Comment: Broke inside day lows
Comment: Breaking through area of support. A close below is needed for a sustained move
Comment:
Comment: USDCAD approaching lower bound of the channel
Comment: Pair testing the trendline and lower bound of the channel
Comment: Pair breaking through the lower bound
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