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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJune 10, 2021 - 20:37
Advisebuy (limit) above S1=1.207
Intraday
Short term
Yesterday range60
Yesterday high1.2117
Yesterday low1.2057
Yesterday close1.2108
R31.22
R21.216
R11.213
S11.207
S21.206
S31.1995
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.207.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.213.
TP4: R2=1.216.
Set the stoploss of these orders at breakout of S2=1.206.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.206.
In this situation, there is an expectation to reach the target S3=1.1995.
Set the stoploss of reverse orders at breakout of S1=1.207.

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