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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJune 21, 2021 - 15:28
Advisebuy (limit) above S1=1.2355
Intraday
Short term
Yesterday range142
Yesterday high1.2481
Yesterday low1.2339
Yesterday close1.2469
R31.2485
R21.245
R11.2415
S11.2355
S21.2335
S31.2255
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2355.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2415.
TP4: R2=1.245.
Set the stoploss of these orders at breakout of S2=1.2335.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2335.
In this situation, there is an expectation to reach the target S3=1.2255.
Set the stoploss of reverse orders at breakout of S1=1.2355.

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