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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeFebruary 5, 2008 - 13:55
Advisebuy (limit) above S1=0.9957
Intraday
Short term
Yesterday range
Yesterday high
Yesterday low
Yesterday close
R31.007
R21.0026
R10.9999
S10.9957
S20.9945
S30.9874
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=0.9957.
As short term forecast is uptrend too, so there is an expectation to reach the following targets:
TP1: R1=0.9999.
TP2: R2=1.0026.
TP3: R3=1.007.
TP4:
To follow the trend, set an order without takeprofit (free trade) and while short term forecast remains unchanged, keep it open.
Set the stoploss of these orders at breakout of S2=0.9945.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=0.9945.
In this situation, there is an expectation to reach the target S3=0.9874.
Set the stoploss of reverse orders at breakout of S1=0.9957.

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