USDCAD 30min Analysis March 16th, 2020

Trade Scenario 1: Bullish - For us to go long we want to see price break above our point of control at 1.2480. We will then wait for a retrace and for 1.2480 to act as support. Enter long on strong bullish setups, first targeting 1.2530.

Trade Scenario 2: Bearish - For us to go short we want to see price below 1.2460. We will then wait for a retrace and for 1.2460 to flip as resistance. Enter short on strong bearish setups, first targeting our edge of value at 1.2420