USDCAD: Flag Pattern Points to Gains Ahead
Strategy: Pending Long
USDCAD appears to have formed a Flag chart pattern, a setup typically indicative of continuation in the trend that was in place before a period of consolidation (in this case, bullish). We will look for confirmation that the larger move higher has resumed on a break of Flag resistance – now at 0.9904 – to actively search out buying opportunities. A breakout sees initial Fibonacci extension resistance at 0.9955.
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