Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2459. 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. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.2465, from which it is expected to attempt a rebound and continue falling with a target at 1.2310.
Canadian Dollar forecast USD/CAD on February 19, 2018
An additional signal in favor of the fall of the pair will be a test of the support level, as well as a test of the lower boundary of the channel. Earlier, a weak signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2585.
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 1.2585, which will indicate a change in the bearish trend in favor of the bullish. Expect the acceleration of USD/CAD quotations falling with a breakdown of the local minimum and closing below the area of 1.2480.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
