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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeWed, 02/06/2019 - 20:10
Advisebuy (limit) above S1=1.317
Intraday
Short term
Yesterday range51
Yesterday high1.3153
Yesterday low1.3102
Yesterday close1.3124
R31.3285
R21.324
R11.321
S11.317
S21.3155
S31.3085
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.317.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.321.
TP4: R2=1.324.
Set the stoploss of these orders at breakout of S2=1.3155.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3155.
In this situation, there is an expectation to reach the target S3=1.3085.
Set the stoploss of reverse orders at breakout of S1=1.317.

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