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Intraday forecastEuro vs. US Dollar technical chart
SymbolEURUSD
Release TimeFri, 02/08/2019 - 08:42
Advisesell (limit) below R1=1.1345
Intraday
Short term
Yesterday range44
Yesterday high1.1368
Yesterday low1.1324
Yesterday close1.1339
R31.143
R21.136
R11.1345
S11.1285
S21.125
S31.12
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.1345.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.1285.
TP4: S2=1.125.
Set the stoploss of these orders at breakout of R2=1.136.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.136.
In this situation, there is an expectation to reach the target R3=1.143.
Set the stoploss of reverse orders at breakout of R1=1.1345.

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