USD/CAD – Bearish Golf Flag Formation (BY NAVIGATION FX)
USDCAD had appreciated on the recent news of the OPEC agreement with Crude & Brent Oil rising over 10%.
A channel was formed as shown in our previous posts in which had broke.
Currently USDCAD is showing bearish momentum with RSI down steeply at 41 points. If USDCAD breaks the golf flag formation, it may well drop down to the 100DMA (Orange line) to 1.3180 bringing in over 60 pips.
For more: http://www.navigationfx.com/usdcad-t...al-analysis-2/
USDCAD had appreciated on the recent news of the OPEC agreement with Crude & Brent Oil rising over 10%.
A channel was formed as shown in our previous posts in which had broke.
Currently USDCAD is showing bearish momentum with RSI down steeply at 41 points. If USDCAD breaks the golf flag formation, it may well drop down to the 100DMA (Orange line) to 1.3180 bringing in over 60 pips.
For more: http://www.navigationfx.com/usdcad-t...al-analysis-2/