Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2578. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a lateral trend in the pair US Dollar Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.2540, from which it is expected to attempt a rebound and a pair growth with a target near the level of 1.2800.
USD/CAD forecast for the week on January 1 — 5, 2018
Earlier, a weak signal was received for the sell of the pair US Dollar/Canadian Dollar, due to the crossing of the signal lines at the level of 1.2790. The cancellation of the growth of the quotations of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the area of 1.2480, which will indicate a change in the flat trend in favor of a bearish trend. Expect the acceleration of USD/CAD quotes growth with the breakdown of the upper boundary of the Cloud and the closing above the level of 1.2840.
