USDCAD 1hour Analysis December 29th, 2020
Price has continued to melt to the downside close to our key weekly level at 1.280.
Trade Scenario 1: Bullish- We can look to enter long off bullish engulfing/variations off the weekly level.
Trade Scenario 2: Bearish - For us to look short we need to see price pullback and form a clear LH. We would like to see price pullback to the 1h 200MA and act as resistance. We will then look for bearish setups
Trade Scenario 1: Bullish- We can look to enter long off bullish engulfing/variations off the weekly level.
Trade Scenario 2: Bearish - For us to look short we need to see price pullback and form a clear LH. We would like to see price pullback to the 1h 200MA and act as resistance. We will then look for bearish setups
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