Currency Pair US Dollar to Canadian Dollar USD/CAD is trading at 1.3525. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a downward trend in the pair US Dollar to Canadian Dollar. It is expected to test the area of signal lines near the level of 1.3560, from which one should expect an attempt to fall and develop a bearish trend for a pair of US Dollar to Canadian Dollar USD/CAD near the level of 1.3400.
Technical analysis & forecast USD/CAD on May 25, 2017
Previously, a strong signal was generated for the sale of the USD/CAD, due to the crossing of the signal lines at 1.3594. The cancellation of the fall of the pair quotes will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.3640 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 with a breakdown of the local minimum area at 1.3420.