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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeDecember 1, 2021 - 21:09
Advisebuy (limit) above S1=1.2755
Intraday
Short term
Yesterday range107
Yesterday high1.2837
Yesterday low1.273
Yesterday close1.2778
R31.29
R21.286
R11.2835
S11.2755
S21.2725
S31.264
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2755.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.2835.
TP4: R2=1.286.
Set the stoploss of these orders at breakout of S2=1.2725.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2725.
In this situation, there is an expectation to reach the target S3=1.264.
Set the stoploss of reverse orders at breakout of S1=1.2755.

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