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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJune 14, 2021 - 21:04
Advisebuy (limit) above S1=1.213
Intraday
Short term
Yesterday range43
Yesterday high1.2171
Yesterday low1.2128
Yesterday close1.2144
R31.2265
R21.2205
R11.218
S11.213
S21.212
S31.2055
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.213.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.218.
TP4: R2=1.2205.
Set the stoploss of these orders at breakout of S2=1.212.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.212.
In this situation, there is an expectation to reach the target S3=1.2055.
Set the stoploss of reverse orders at breakout of S1=1.213.

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