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Intraday forecastEuro / US Dollar technical chart
SymbolEURUSD
Release TimeMay 29, 2020 - 20:34
Advisebuy (limit) above S1=1.106
Intraday
Short term
Yesterday range102
Yesterday high1.1093
Yesterday low1.0991
Yesterday close1.1076
R31.1185
R21.1145
R11.111
S11.106
S21.103
S31.094
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.106.
As short term forecast is uptrend too, so there is an expectation to reach the following targets:
TP1: R1=1.111.
TP2: R2=1.1145.
TP3: R3=1.1185.
TP4:
To follow the trend, set an order without takeprofit (free trade) and while short term forecast remains unchanged, keep it open.
Set the stoploss of these orders at breakout of S2=1.103.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.103.
In this situation, there is an expectation to reach the target S3=1.094.
Set the stoploss of reverse orders at breakout of S1=1.106.

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