Currency pair US Dollar to Canadian Dollar USD/CAD is trading at 1.3593. The pair USD/CAD is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the pair US Dollar to Canadian Dollar USD/CAD. It is expected to test the area of signal lines near the level of 1.3650, from which one should expect an attempt to fall and develop the bearish trend for the pair US Dollar to Canadian Dollar USD/CAD near the level 1.3465.
USD/CAD forecast & analysis on May 22, 2017
Earlier, a medium strength signal was generated for the sale of the US Dollar to Canadian Dollar USD/CAD, due to the crossing of the signal lines at the level of 1.3703. The cancellation of the fall of the pair USD/CAD will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1.3710 area, which will indicate a change in the downward trend in favor of the upward. Expect to accelerate the fall in quotes USD/CAD, with the breakdown of the local minimum area at 1.3510.