Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2886. 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. Ichimoku Kinko Hyo Cloud near the level 1.2945 is expected to test the bottom of the cloud, from which one should expect a rebound and continue the USD/CAD decline with the target at 1.2705.
Canadian Dollar forecast USD/CAD on March 29, 2018
An additional signal in favor of the fall of the pair will be a test of the resistance area. Earlier, a weak signal was received for the sell of the pair USD/CAD, due to the crossing 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 1.2980, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of falling USD/CAD quotes is with the breakdown of the support area and the closing below the level of 1.2780.