Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2883. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair US Dollar/Canadian Dollar. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 1.2915, from which it is expected to attempt a rebound and continue falling USD/CAD with the target at 1.2750.
Canadian Dollar forecast USD/CAD for April 2, 2018
An additional signal in favor of the fall of the pair is the upper bound of the «Triangle» model. 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 1.2870.
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 level of 1.2980, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of USD/CAD quotes falling with the breakdown of the lower bound of the «Triangle» model and the closing below the level of 1.2820.