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Intraday forecastUS Dollar vs. Canadian Dollar technical chart
SymbolUSDCAD
Release TimeTue, 10/22/2019 - 00:42
Advisesell (limit) below R1=1.312
Intraday
Short term
Yesterday range56
Yesterday high1.3138
Yesterday low1.3081
Yesterday close1.3087
R31.3195
R21.313
R11.312
S11.3065
S21.3045
S31.3015
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.312.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3065.
TP4: S2=1.3045.
Set the stoploss of these orders at breakout of R2=1.313.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.313.
In this situation, there is an expectation to reach the target R3=1.3195.
Set the stoploss of reverse orders at breakout of R1=1.312.

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