USDCAD 30min Analysis February 2nd, 2021
Price has respected our key weekly level of 1.2865 as resistance once again. Currently we are consolidating around our other key weekly of 1.2800
Trade Scenario 1: Bullish - For us to go long we need to see price find support at our key weekly level of 1.2800, forming a nice double bottom. Enter on strong bullish setups off the weekly.
Trade Scenario 2: Bearish - For us to go short we need to see price push below our key zone of 1.2800. We will then wait for a retrace and for a clear LH below 1.2800. Enter on strong bearish setups.
Trade Scenario 1: Bullish - For us to go long we need to see price find support at our key weekly level of 1.2800, forming a nice double bottom. Enter on strong bullish setups off the weekly.
Trade Scenario 2: Bearish - For us to go short we need to see price push below our key zone of 1.2800. We will then wait for a retrace and for a clear LH below 1.2800. Enter on strong bearish setups.
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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.