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Intraday forecastEuro / US Dollar technical chart
SymbolEURUSD
Release TimeOctober 15, 2020 - 20:44
Advisesell (limit) below R1=1.173
Intraday
Short term
Yesterday range51
Yesterday high1.177
Yesterday low1.1719
Yesterday close1.1745
R31.1835
R21.1755
R11.173
S11.168
S21.166
S31.161
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.173.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.168.
TP4: S2=1.166.
Set the stoploss of these orders at breakout of R2=1.1755.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.1755.
In this situation, there is an expectation to reach the target R3=1.1835.
Set the stoploss of reverse orders at breakout of R1=1.173.

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