Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2421. 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 1.2450, from which it is expected to attempt a rebound and continue falling with a target at 1.2240.
Canadian Dollar forecast USD/CAD on January 18, 2018
Earlier, a medium strength signal was received for the sell of the pair USD US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2475. 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 1.2530, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotes of the pair is with the breakdown of the level of 1.2350, which indicates the continuation of the bearish trend in the pair.
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