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Intraday forecastUS Dollar / Canadian Dollar technical chart
SymbolUSDCAD
Release TimeFebruary 10, 2016 - 21:11
Advisesell (limit) below R1=1.398
Intraday
Short term
Yesterday range175
Yesterday high1.396
Yesterday low1.3785
Yesterday close1.3865
R31.412
R21.4015
R11.398
S11.383
S21.3785
S31.364
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.398.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.383.
TP4: S2=1.3785.
Set the stoploss of these orders at breakout of R2=1.4015.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=1.4015.
In this situation, there is an expectation to reach the target R3=1.412.
Set the stoploss of reverse orders at breakout of R1=1.398.

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