Bull flag USDCAD
USDCAD has broken out of a multi-month channel and looks like a nice opportunity to go long. After breaking out it has retraced forming a bull flag pattern on support from fib, moving average and broken trendline. Oversold Stochastic RSI is bullish. Strong NFP/jobs data from the US support a rate hike this month, and combined with weaker data from Canada look for USD to surge against the CAD. Wait for breakout of the flag for confirmation.
Disclaimer: this is only an idea and not considered trading advice. Trade smart!
Disclaimer: this is only an idea and not considered trading advice. Trade smart!
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