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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJanuary 14, 2020 - 21:43
Advisesell (limit) below R1=1.3085
Intraday
Short term
Yesterday range36
Yesterday high1.3067
Yesterday low1.3031
Yesterday close1.3055
R31.318
R21.3105
R11.3085
S11.304
S21.303
S31.3
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3085.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.304.
TP4: S2=1.303.
Set the stoploss of these orders at breakout of R2=1.3105.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3105.
In this situation, there is an expectation to reach the target R3=1.318.
Set the stoploss of reverse orders at breakout of R1=1.3085.

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