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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeTue, 09/10/2019 - 20:13
Advisesell (limit) below R1=1.318
Intraday
Short term
Yesterday range38
Yesterday high1.3176
Yesterday low1.3139
Yesterday close1.3167
R31.3255
R21.319
R11.318
S11.313
S21.311
S31.3085
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.318.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.313.
TP4: S2=1.311.
Set the stoploss of these orders at breakout of R2=1.319.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.319.
In this situation, there is an expectation to reach the target R3=1.3255.
Set the stoploss of reverse orders at breakout of R1=1.318.

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