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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeMon, 03/12/2018 - 19:51
Advisesell (limit) below R1=1.2865
Intraday
Short term
Yesterday range101
Yesterday high1.2909
Yesterday low1.2807
Yesterday close1.2807
R31.298
R21.2895
R11.2865
S11.28
S21.2755
S31.2725
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2865.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.28.
TP4: S2=1.2755.
Set the stoploss of these orders at breakout of R2=1.2895.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2895.
In this situation, there is an expectation to reach the target R3=1.298.
Set the stoploss of reverse orders at breakout of R1=1.2865.

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