Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2678. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the pair US Dollar/Canadian Dollar. The test area of the Ichimoku Kinko Hyo signal lines near the level of 1.2645 is expected, from which it is expected to attempt a rebound and continue growth with the target at 1.2850.
Canadian Dollar forecast USD/CAD on February 28, 2018
An additional signal in favor of the growth 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 1.2670. The cancellation of the growth of the pair’s quotations will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below the level of 1.2545, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/CAD quotes growth with the breakdown of the resistance area and the closing above the area of 1.2745.
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