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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeAugust 1, 2020 - 13:37
Advisebuy (limit) above S1=1.337
Intraday
Short term
Yesterday range127
Yesterday high1.3459
Yesterday low1.3332
Yesterday close1.3421
R31.3485
R21.3455
R11.3435
S11.337
S21.333
S31.3235
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.337.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3435.
TP4: R2=1.3455.
Set the stoploss of these orders at breakout of S2=1.333.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.333.
In this situation, there is an expectation to reach the target S3=1.3235.
Set the stoploss of reverse orders at breakout of S1=1.337.

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