Canadian Dollar forecast Currency pair US Dollar Canadian Dollar USDCAD is trading at 1.2335. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an bullish trend in the pair US Dollar/Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the 1.2250 level, from which it is expected to rebound and continue the development of the bullish trend with a target at 1.2550.
Earlier, a medium strength signal was received for buying of the pair US Dollar/Canadian Dollar, due to crossing of signal lines at the level of 1.2200.
The cancellation of the growth of the quotes of the pair will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotations below the level of 1.2180, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of the pair is with the breakdown of the level of 1.2385.
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