USDCAD 30min Analysis February 25th, 2021
Price is currently in a strong downtrend, but we are at a high value area so we expect a little consolidation here.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.2490. We will then wait for a quick retrace and for 1.2490 to act as support. Enter on strong bullish setups, first targeting the edge of value around 1.2530.
Trade Scenario 2: Bearish - For us to go short we need to seep price break below 1.2460. We will then wait for a retrace and for 1.2460 to act as resistance. First targeting the next edge of value around 1.2430.
Trade Scenario 1: Bullish - For us to go long we want to see price break above 1.2490. We will then wait for a quick retrace and for 1.2490 to act as support. Enter on strong bullish setups, first targeting the edge of value around 1.2530.
Trade Scenario 2: Bearish - For us to go short we need to seep price break below 1.2460. We will then wait for a retrace and for 1.2460 to act as resistance. First targeting the next edge of value around 1.2430.
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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.