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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeMarch 2, 2021 - 21:08
Advisebuy (limit) above S1=1.258
Intraday
Short term
Yesterday range97
Yesterday high1.2737
Yesterday low1.2641
Yesterday close1.2645
R31.2745
R21.2695
R11.2665
S11.258
S21.256
S31.248
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.258.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2665.
TP4: R2=1.2695.
Set the stoploss of these orders at breakout of S2=1.256.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.256.
In this situation, there is an expectation to reach the target S3=1.248.
Set the stoploss of reverse orders at breakout of S1=1.258.

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