USDCAD Flag Continuation Pattern
The price has consolidated into a rectangular flag since Tuesday's 200 pip drop and we could now potentially see the price continue to move lower. If you take into account the upper blue trend line for the stop area the risk reward ratio is around 2 with the target, as the width of the the rectangle, 120 pips lower to around 1.3880.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.