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Intraday forecastEuro / US Dollar technical chart
SymbolEURUSD
Release TimeJanuary 13, 2021 - 19:38
Advisesell (limit) below R1=1.2205
Intraday
Short term
Yesterday range73
Yesterday high1.221
Yesterday low1.2137
Yesterday close1.2206
R31.229
R21.222
R11.2205
S11.2135
S21.21
S31.2065
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2205.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.2135.
TP4: S2=1.21.
Set the stoploss of these orders at breakout of R2=1.222.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.222.
In this situation, there is an expectation to reach the target R3=1.229.
Set the stoploss of reverse orders at breakout of R1=1.2205.

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