Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2560. The pair is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in the pair US Dollar/Canadian Dollar. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 1.2495 is expected, from which one should expect a rebound attempt and continue growth with the target at 1.2720. An additional signal in favor of the growth of the pair will test the level of support.
Canadian Dollar forecast USD/CAD on February 21, 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 1.2585.
The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 1.2445, which will indicate a change in the flat trend in favor of the bearish trend. Expect the acceleration of USD/CAD quotes growth with the breakdown of the upper bound of the «Triangle» model and the closing above the area of 1.2590.
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