Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2890. 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 near the level 1.2950 is expected to test the bottom of the cloud, from which it is expected to attempt a rebound and continue falling with a target at 1.2770.
Canadian Dollar forecast USD/CAD on March 23, 2018
An additional signal in favor of the fall of the pair will be a test of the lower boundary of the bullish channel. Earlier, a weak signal was received for the sale of the pair USD/CAD, due to the crossing of the signal lines at the level of 1.3020.
The cancellation of the fall of the pair’s quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the level of 1.3070, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/CAD quotations is with the breakdown of the support area and the closing below the level of 1.2850.
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