USDCAD 30min Analysis February 4th, 2021
Price has been consolidating around our key weekly level and is starting to break to the upside.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of 1.2800. We will then look for price to find support off our weekly and enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see a significant push below our key weekly of 1.2800. We will then wait for a retrace and a clear LH below 1.2800
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of 1.2800. We will then look for price to find support off our weekly and enter on strong bullish setups.
Trade Scenario 2: Bearish - For us to go short we need to see a significant push below our key weekly of 1.2800. We will then wait for a retrace and a clear LH below 1.2800
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