Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2516. 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 Ichimoku Kinko Hyo signal lines near the level of 1.2550 is expected, from which it is expected to attempt a rebound and continue falling with a target at 1.2380. An additional signal in favor of the drop in quotations will be the test of the upper boundary of the bearish channel.
Canadian Dollar forecast USD/CAD on January 4, 2018
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 quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2715, which indicates a change in the downward trend in favor of the upside. Expect to accelerate the fall in quotations of the pair is with the breakdown of the level of 1.2490.