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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeFebruary 13, 2020 - 19:56
Advisesell (limit) below R1=1.3275
Intraday
Short term
Yesterday range60
Yesterday high1.3295
Yesterday low1.3235
Yesterday close1.3249
R31.335
R21.3285
R11.3275
S11.3235
S21.3215
S31.317
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3275.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.3235.
TP4: S2=1.3215.
Set the stoploss of these orders at breakout of R2=1.3285.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3285.
In this situation, there is an expectation to reach the target R3=1.335.
Set the stoploss of reverse orders at breakout of R1=1.3275.

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