Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2491. 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 Ichimoku Kinko Hyo signal lines near the level of 1.2510 is expected, from which it is expected to attempt a rebound and continue falling with a target at 1.2340. An additional signal in favor of the drop in quotations will be the test of the upper boundary of the bearish channel.
Canadian Dollar forecast USD/CAD on January 8, 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 quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2705, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling quotations of the pair is with the breakdown of the level of 1.2485.
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