Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2472. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the pair US Dollar/Canadian Dollar. The test of the upper boundary is expected. Ichimoku Kinko Hyo indicator cloud near the level of 1.2440, from which it is expected to rebound and continue the development of the bullish trend with the target at 1.2625. An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish channel.
Canadian Dollar forecast USD/CAD on October 6, 2017
Earlier, a medium strength signal was received for buy of the pair US Dollar/Canadian Dollar, due to crossing of signal lines at the level of 1.2200. The cancellation of the growth of the quotations of the pair will be the breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the level of 1.2380, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of the pair is with the breakdown of the level of 1.2550.
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