Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2472. 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. The test area of Ichimoku Kinko Hyo signal lines near the level of 1.2590 is expected, from which it is expected to attempt a rebound and continue falling with the target near the level of 1.2120.
USD/CAD forecast for the week on January 22 — 26, 2018
An additional signal in favor of the fall of the pair is the resistance level test. 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 quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.2730, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the USD/CAD quotes falling with the breakdown of the lower border of the channel and the closing below the level of 1.2340.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
