Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2412. The pair continues to bargain with them the lower boundary of the Cloud of Ichimoku Kinko Hyo, indicating a bearish trend in the pair US Dollar/Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the level 1.2520, from which it is expected to attempt a rebound and continue falling with the target near the level of 1.2050.
USD/CAD forecast for the week on January 8 — 12, 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 fall of the pair quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 1.2810, which will indicate a change in the bearish trend in favor of the bullish. Expect the acceleration of USD/CAD quotes falling with the breakdown of the channel’s lower boundary and closing below the level of 1.2250.