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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeWed, 05/15/2019 - 20:16
Advisesell (limit) below R1=1.346
Intraday
Short term
Yesterday range31
Yesterday high1.3487
Yesterday low1.3456
Yesterday close1.346
R31.3565
R21.3485
R11.346
S11.341
S21.338
S31.334
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.346.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.341.
TP4: S2=1.338.
Set the stoploss of these orders at breakout of R2=1.3485.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3485.
In this situation, there is an expectation to reach the target R3=1.3565.
Set the stoploss of reverse orders at breakout of R1=1.346.

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