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.
