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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeTue, 01/08/2019 - 20:28
Advisesell (limit) below R1=1.3325
Intraday
Short term
Yesterday range110
Yesterday high1.3388
Yesterday low1.3278
Yesterday close1.3297
R31.3425
R21.3345
R11.3325
S11.3265
S21.322
S31.316
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3325.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3265.
TP4: S2=1.322.
Set the stoploss of these orders at breakout of R2=1.3345.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3345.
In this situation, there is an expectation to reach the target R3=1.3425.
Set the stoploss of reverse orders at breakout of R1=1.3325.

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