Bear Flag Pattern Forming on USD/CAD
From news_archive.php?id=43439
If you've been watching the Canadian dollar (CAD) this year, you know it has been throttling the U.S. dollar (USD). The USD/CAD has fallen more than 1,000 pips since March, and it looks like there is more to come. [IMG]http://www.pfxglobal.com/images/Wade/cad_bear-flag.png[/IMG] Source:MetaStockProFX Starting in July, the USD/CAD began retracing a portion of its previous downtrend. As it has done so, it has started forming a perfect bear-flag pattern. A bear-flag pattern is an upward sloping channel that forms during a prolonged downtrend where the support and resistance levels are parallel to each other. A bear-flag ...
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