Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week at 1.2649. 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 is expected to test near the level of 1.2810, from which one should expect an attempt to fall and develop a bearish tendency for a pair to fall near the level of 1.2280.
USD/CAD weekly forecast on August 21 — 25, 2017
Previously, a weak signal was generated for buying of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2670. The cancellation of the fall of the pair quotes will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.3050 area, which will indicate 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 1.2350.
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