Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2470. The pair continues to trade within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in the pair US Dollar Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the level of 1.2510, from which it is expected to try to fall and develop a bearish tendency for the pair with a target to lower near the level of 1.2335.
USD/CAD forecast for the week on October 16 — 20, 2017
Earlier, a weak signal was received for buy of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at the level of 1.2370. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.2605, indicating a change in the flat trend in favor of the bullish trend. Expect to accelerate the fall in USD/CAD quotations is with the breakdown of the level of 1.2300.