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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeMon, 04/16/2018 - 10:59
Advisesell (limit) below R1=1.2715
Intraday
Short term
Yesterday range65
Yesterday high1.2617
Yesterday low1.2552
Yesterday close1.2603
R31.283
R21.2745
R11.2715
S11.259
S21.255
S31.246
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.2715.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.259.
TP4: S2=1.255.
Set the stoploss of these orders at breakout of R2=1.2745.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.2745.
In this situation, there is an expectation to reach the target R3=1.283.
Set the stoploss of reverse orders at breakout of R1=1.2715.

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