Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2290. The pair is trading 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 1.2315 is expected, from which it is expected to attempt a rebound and continue falling with a target at 1.2180.
Canadian Dollar forecast USD/CAD on February 1, 2018
An additional signal in favor of the fall will be the test of the lower bound of the «Triangle» model. Earlier, a strong signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2325.
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 1.2420, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/CAD quotations with a breakdown of 1.2270.
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