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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeJanuary 29, 2015 - 22:00
Advisebuy (limit) above S1=1.2537
Intraday
Short term
Yesterday range149
Yesterday high1.2537
Yesterday low1.2388
Yesterday close1.2535
R31.2745
R21.2675
R11.2605
S11.2537
S21.2495
S31.239
Trade setup

As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.2537.
As short term forecast is uptrend too, so there is an expectation to reach the following targets:
TP1: R1=1.2605.
TP2: R2=1.2675.
TP3: R3=1.2745.
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=1.2495.

Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.2495.
In this situation, there is an expectation to reach the target S3=1.239.
Set the stoploss of reverse orders at breakout of S1=1.2537.

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