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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeThu, 11/08/2018 - 20:39
Advisebuy (limit) above S1=1.3115
Intraday
Short term
Yesterday range102
Yesterday high1.3158
Yesterday low1.3056
Yesterday close1.311
R31.329
R21.3225
R11.319
S11.3115
S21.309
S31.301
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3115.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.319.
TP4: R2=1.3225.
Set the stoploss of these orders at breakout of S2=1.309.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.309.
In this situation, there is an expectation to reach the target S3=1.301.
Set the stoploss of reverse orders at breakout of S1=1.3115.

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