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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeNovember 19, 2020 - 21:33
Advisebuy (limit) above S1=1.303
Intraday
Short term
Yesterday range83
Yesterday high1.3117
Yesterday low1.3034
Yesterday close1.3075
R31.3275
R21.3175
R11.3115
S11.303
S21.302
S31.2955
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.303.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.3115.
TP4: R2=1.3175.
Set the stoploss of these orders at breakout of S2=1.302.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.302.
In this situation, there is an expectation to reach the target S3=1.2955.
Set the stoploss of reverse orders at breakout of S1=1.303.

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