USDCAD 30min Analysis February 24th, 2021
Price is starting to fall out of our value zone and we are looking to continue to the downward trend.
Trade Scenario 1: Bearish - For us to go short we want to see price retrace and reject off 1.2570. We will then look to enter short on strong bearish setups, first targeting 1.2530.
Trade Scenario 2: Bullish - For us to go long we want to see price break back into our value zone and above 1.2570. We will then wait for a retrace and for 1.2570 to flip as support.
Trade Scenario 1: Bearish - For us to go short we want to see price retrace and reject off 1.2570. We will then look to enter short on strong bearish setups, first targeting 1.2530.
Trade Scenario 2: Bullish - For us to go long we want to see price break back into our value zone and above 1.2570. We will then wait for a retrace and for 1.2570 to flip as support.
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