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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeMon, 02/12/2018 - 20:06
Advisesell (limit) below R1=1.2665
Intraday
Short term
Yesterday range128
Yesterday high1.2688
Yesterday low1.256
Yesterday close1.2577
R31.276
R21.2685
R11.2665
S11.258
S21.2545
S31.25
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2665.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.258.
TP4: S2=1.2545.
Set the stoploss of these orders at breakout of R2=1.2685.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2685.
In this situation, there is an expectation to reach the target R3=1.276.
Set the stoploss of reverse orders at breakout of R1=1.2665.

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