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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeFri, 02/08/2019 - 10:06
Advisebuy (limit) above S1=1.328
Intraday
Short term
Yesterday range114
Yesterday high1.3317
Yesterday low1.3203
Yesterday close1.3306
R31.342
R21.3375
R11.3355
S11.328
S21.326
S31.3185
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.328.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3355.
TP4: R2=1.3375.
Set the stoploss of these orders at breakout of S2=1.326.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.326.
In this situation, there is an expectation to reach the target S3=1.3185.
Set the stoploss of reverse orders at breakout of S1=1.328.

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