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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeThu, 09/13/2018 - 20:08
Advisesell (limit) below R1=1.3025
Intraday
Short term
Yesterday range98
Yesterday high1.3078
Yesterday low1.298
Yesterday close1.2992
R31.312
R21.3045
R11.3025
S11.296
S21.29
S31.285
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3025.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.296.
TP4: S2=1.29.
Set the stoploss of these orders at breakout of R2=1.3045.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3045.
In this situation, there is an expectation to reach the target R3=1.312.
Set the stoploss of reverse orders at breakout of R1=1.3025.

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