USDCAD 30min Analysis February 23rd, 2021
Price is currently consolidating at our key weekly level and strong demand zone.
Trade Scenario 1: Bullish - For us to go long we want to see price break above our weekly level and 1.2630. We will then wait for a retrace and for 1.2630 to act as support. We will enter on strong bullish setups off this level, first targeting 1.2660.
Trade Scenario 2: Bearish - For us to go short we want to see price break below our weekly level. We will then wait for a retest and for our weekly to act as resistance. We will enter on strong bearish setups, first targeting 1.2580.
Trade Scenario 1: Bullish - For us to go long we want to see price break above our weekly level and 1.2630. We will then wait for a retrace and for 1.2630 to act as support. We will enter on strong bullish setups off this level, first targeting 1.2660.
Trade Scenario 2: Bearish - For us to go short we want to see price break below our weekly level. We will then wait for a retest and for our weekly to act as resistance. We will enter on strong bearish setups, first targeting 1.2580.
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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.