Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2472. The pair is trading below the Ichimoku Kinko Hyo Cloud, which indicates a change in the trend in favor of a bearish trend in the pair US Dollar/Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to be tested near the level of 1.2490, from which it is expected to rebound and continue the development of the bearish trend with the target at 1.2345.
Canadian Dollar forecast USD/CAD on October 20, 2017
Earlier, a medium strength signal was received for buy 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 quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.2530, which will indicate a change in the bearish trend in favor of the bullish. Expect to accelerate the fall of the pair is with the breakdown of the support level and closing below 1.2420.
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