Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2623. The pair continues to trade above the upper Clouds of Ichimoku Kinko Hyo, indicating that there is an bullish trend in the pair US Dollar/Canadian Dollar. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 1.2560, from which it is expected to attempt a rebound and development of the bullish trend for the pair with a target of growth near the level of 1.2950.
USD/CAD forecast for the week on October 23 — 27, 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 growth of the pair’s quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1.2350, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/CAD is with the breakdown of the level of 1.2690.