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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeTue, 05/15/2018 - 20:02
Advisebuy (limit) above S1=1.2825
Intraday
Short term
Yesterday range64
Yesterday high1.2814
Yesterday low1.275
Yesterday close1.2811
R31.3
R21.295
R11.2925
S11.2825
S21.2805
S31.2725
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2825.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2925.
TP4: R2=1.295.
Set the stoploss of these orders at breakout of S2=1.2805.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2805.
In this situation, there is an expectation to reach the target S3=1.2725.
Set the stoploss of reverse orders at breakout of S1=1.2825.

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