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Intraday forecastEuro vs. US Dollar technical chart
SymbolEURUSD
Release TimeMon, 02/12/2018 - 20:21
Advisesell (limit) below R1=1.23
Intraday
Short term
Yesterday range82
Yesterday high1.2287
Yesterday low1.2205
Yesterday close1.2248
R31.245
R21.2345
R11.23
S11.2235
S21.221
S31.216
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.23.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2235.
TP4: S2=1.221.
Set the stoploss of these orders at breakout of R2=1.2345.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2345.
In this situation, there is an expectation to reach the target R3=1.245.
Set the stoploss of reverse orders at breakout of R1=1.23.

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