Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2644. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair US Dollar/Canadian Dollar. The test area of the Ichimoku Kinko Hyo signal lines near the level of 1.2685 is expected, from which one should expect a rebound attempt and continue falling with the target at 1.2550.
Canadian Dollar forecast USD/CAD on December 29, 2017
An additional signal in favor of the drop in quotations is the resistance level test. Earlier, a weak signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at the level of 1.2825. The cancellation of the fall of the pair’s quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2780, which will indicate a change in the bearish trend in favor of the bullish. Expect the acceleration of falling quotations of the pair is with the breakdown of the level of 1.2620.
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