FX.co ★ USDCAD M5: Bearish Flag

The Bearish Flag pattern has been formed on USDCAD at M5. The lower boundary of the pattern is located at 1.4182/1.4184 while the upper boundary lies at 1.4182/1.4184. The projection of the flagpole is 7 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.4182 is broken, the price will move further downwards.