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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJanuary 13, 2020 - 20:02
Advisebuy (limit) above S1=1.3035
Intraday
Short term
Yesterday range47
Yesterday high1.3075
Yesterday low1.3028
Yesterday close1.305
R31.316
R21.3105
R11.3085
S11.3035
S21.3025
S31.296
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.3035.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3085.
TP4: R2=1.3105.
Set the stoploss of these orders at breakout of S2=1.3025.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.3025.
In this situation, there is an expectation to reach the target S3=1.296.
Set the stoploss of reverse orders at breakout of S1=1.3035.

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