Currency pair US Dollar to Canadian Dollar USD/CAD closes the trading week at 1.2483. 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 1.2610, from which it is expected to try to fall and develop a bearish trend for the pair with a target to lower near the level of 1.2130.
USD/CAD weekly forecast on September 4 — 8, 2017
Previously, a strong signal was generated for the sale of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2610. 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 area of 1.2970, 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 1.2260.