Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2547. 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. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.2560, from which it is expected to attempt a rebound and continue falling with a target at 1.2290.
Canadian Dollar forecast USD/CAD on January 12, 2018
An additional signal in favor of the drop in quotations will be a test of the level of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2425. 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 1.2590, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of quotations of the pair is with the breakdown of the level of 1.2410.