Currency pair US Dollar to Canadian Dollar USD/CAD is trading at 1.2481. 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 Cloud is expected to test near the level of 1.2500, from where it is expected to try to fall and develop the bearish trend for the pair USD/CAD with the target of dropping near 1.2260.
Canadian Dollar forecast USD/CAD on August 2, 2017
Previously, a strong signal was generated for the sale of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2485. The cancellation of the fall of the pair’s quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1.2590, 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 local minimum area at the level of 1.2300.
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