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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJuly 18, 2019 - 20:46
Advisesell (limit) below R1=1.3065
Intraday
Short term
Yesterday range58
Yesterday high1.3093
Yesterday low1.3035
Yesterday close1.3053
R31.318
R21.3095
R11.3065
S11.3015
S21.2995
S31.296
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3065.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3015.
TP4: S2=1.2995.
Set the stoploss of these orders at breakout of R2=1.3095.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3095.
In this situation, there is an expectation to reach the target R3=1.318.
Set the stoploss of reverse orders at breakout of R1=1.3065.

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