Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2327. 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. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.2350 is expected, from which it is expected to attempt a rebound and continue falling with a target at 1.2190.
Canadian Dollar forecast USD/CAD on January 29, 2018
An additional signal in favor of the fall will be the test of the lower bound of the «Triangle» model. Earlier, a strong signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2435.
The cancellation of the fall of the pair quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2490, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall in USD/CAD quotations with a breakdown of 1.2275.
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