Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2862. 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 test area of Ichimoku Kinko Hyo signal lines near the level of 1.2900 is expected, from which it is expected to attempt a rebound and continue falling USD/CAD with the target at 1.2705.
Canadian Dollar forecast USD/CAD on March 28, 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 the sale of the pair USD/CAD, due to the intersection of the signal lines at the level of 1.3020.
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 1.2970, 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 closing below the level of 1.2810.