USDCAD 30min Analysis April 6th, 2020

Trade Scenario 1: Bullish - For us to go long we want to see price break above our point of control at 1.2570. We will then wait for price to retrace and find support at 1.2570. We will then enter on strong bullish setups, first targeting previous highs around 1.2590

Trade Scenario 2: Bearish - For us to go short we want to see price reject off our point of control at 1.2570. We will then wait for a retrace and a double top to form. Enter on strong bearish setups, first targeting our edge of value at 1.2530