Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2556. The pair continues to trade 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 is expected to test near the level of 1.2580, from which it is expected to attempt a rebound and continue falling with the target near the level of 1.2180.
USD/CAD forecast for the week on February 19 — 23, 2018
An additional signal in favor of the fall of the pair will be a test of the upper boundary of the channel, as well as a resistance level test. Earlier, a weak signal was received for buy of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2420.
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 quotes above the area of 1.2710, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of USD/CAD quotations falling with the breakdown of the support level and the closing below the level of 1.2400.
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