Currency pair US Dollar to Canadian Dollar USD/CAD finished trading month at the level of 1.2568. 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 1.2940, from which one should expect an attempt to fall and develop the bearish trend for the pair USD/CAD with the target of decreasing near the level of 1.1860.
Canadian Dollar forecast USD/CAD for August 2017
Earlier, a signal of medium strength was generated for the sale of the pair US Dollar/Canadian Dollar, due to crossing of the signal lines at the level of 1.3304. 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 1.3500 area, 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 1.2050.
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