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Intraday forecastEuro vs. US Dollar technical chart
SymbolEURUSD
Release TimeWed, 07/11/2018 - 20:14
Advisesell (limit) below R1=1.17
Intraday
Short term
Yesterday range72
Yesterday high1.1762
Yesterday low1.169
Yesterday close1.1744
R31.1795
R21.172
R11.17
S11.163
S21.16
S31.155
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.17.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.163.
TP4: S2=1.16.
Set the stoploss of these orders at breakout of R2=1.172.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.172.
In this situation, there is an expectation to reach the target R3=1.1795.
Set the stoploss of reverse orders at breakout of R1=1.17.

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