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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeTue, 08/13/2019 - 20:36
Advisesell (limit) below R1=1.3265
Intraday
Short term
Yesterday range52
Yesterday high1.325
Yesterday low1.3198
Yesterday close1.3235
R31.337
R21.329
R11.3265
S11.3195
S21.318
S31.3145
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3265.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3195.
TP4: S2=1.318.
Set the stoploss of these orders at breakout of R2=1.329.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.329.
In this situation, there is an expectation to reach the target R3=1.337.
Set the stoploss of reverse orders at breakout of R1=1.3265.

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