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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeThu, 01/11/2018 - 20:54
Advisebuy (limit) above S1=1.25
Intraday
Short term
Yesterday range156
Yesterday high1.2583
Yesterday low1.2427
Yesterday close1.2545
R31.27
R21.2625
R11.259
S11.25
S21.248
S31.24
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.25.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.259.
TP4: R2=1.2625.
Set the stoploss of these orders at breakout of S2=1.248.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.248.
In this situation, there is an expectation to reach the target S3=1.24.
Set the stoploss of reverse orders at breakout of S1=1.25.

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