Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2363. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the pair US Dollar/Canadian Dollar. The test area of Ichimoku Kinko Hyo indicator lines near the level of 1.2305 is expected, from which it is expected to rebound and continue the development of the bullish trend with the target at 1.2550.
Canadian Dollar forecast USD/CAD on September 26, 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 quotations below the level of 1.2220, 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 a breakdown of the resistance level and closing above the area of 1.2470.