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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeThu, 07/11/2019 - 20:16
Advisesell (limit) below R1=1.3115
Intraday
Short term
Yesterday range82
Yesterday high1.3144
Yesterday low1.3062
Yesterday close1.308
R31.321
R21.3135
R11.3115
S11.3045
S21.3
S31.297
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3115.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3045.
TP4: S2=1.3.
Set the stoploss of these orders at breakout of R2=1.3135.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3135.
In this situation, there is an expectation to reach the target R3=1.321.
Set the stoploss of reverse orders at breakout of R1=1.3115.

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