Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2421. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the pair US Dollar/Canadian Dollar. The test area of Ichimoku Kinko Hyo indicator lines near the level of 1.2390 is expected, from which it is expected to rebound and continue the development of the bullish trend with a target at 1.2635. An additional signal in favor of the growth of the pair will test the level of support.
Canadian Dollar forecast USD/CAD on October 2, 2017
Earlier, a medium strength signal was received for buy of the pair US Dollar/Canadian Dollar, due to crossing of signal lines at the level of 1.2200. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 1.2250, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of the pair is with the breakdown of the level of 1.2520.