Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2578. 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. The test area of the Ichimoku Kinko Hyo signal lines near the level of 1.2610 is expected, from which it is expected to attempt a rebound and continue falling with a target at 1.2390. An additional signal in favor of the drop in quotations is the resistance level test.
Canadian Dollar forecast USD/CAD on January 2, 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 the level of 1.2825. 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 1.2745, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations of the pair is with the breakdown of the level of 1.2490.