Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2338. 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 indicator area signal line test is near the level of 1.24, from which it is expected to try to fall and develop the bearish tendency for the pair to decrease near the level of 1.1950.
USD/CAD forecast for the week September 25 — 29, 2017
An additional signal in favor of the fall of the pair is the resistance level test. Previously, a strong signal was generated for the sale of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2600. The 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 1.2610, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/CAD quotations is with the breakdown of the level of 1.2210.
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