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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJune 1, 2020 - 20:44
Advisesell (limit) below R1=1.3695
Intraday
Short term
Yesterday range118
Yesterday high1.3832
Yesterday low1.3714
Yesterday close1.3788
R31.3825
R21.3725
R11.3695
S11.356
S21.35
S31.346
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.3695.
As short term forecast is downtrend too, so there is an expectation to reach the following targets:
TP1: S1=1.356.
TP2: S2=1.35.
TP3: S3=1.346.
TP4:
To follow the trend, set an order without takeprofit (free trade) and while short term forecast remains unchanged, keep it open.
Set the stoploss of these orders at breakout of R2=1.3725.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.3725.
In this situation, there is an expectation to reach the target R3=1.3825.
Set the stoploss of reverse orders at breakout of R1=1.3695.

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