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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeWed, 12/06/2017 - 19:47
Advisebuy (limit) above S1=1.2725
Intraday
Short term
Yesterday range81
Yesterday high1.2704
Yesterday low1.2623
Yesterday close1.2689
R31.291
R21.285
R11.281
S11.2725
S21.2705
S31.2625
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2725.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.281.
TP4: R2=1.285.
Set the stoploss of these orders at breakout of S2=1.2705.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2705.
In this situation, there is an expectation to reach the target S3=1.2625.
Set the stoploss of reverse orders at breakout of S1=1.2725.

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