The USD/CAD pair is trading at 1.2366; the instrument is still moving below Ichimoku Cloud, which means that it may continue falling. We should expect the price to test the downside border of the cloud at 1.2385 and then continue moving downwards to reach 1.2245. Another signal to confirm further descending movement is the price’s rebounding from the resistance level.
However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the Triangle pattern and fixes above 1.2455. In this case, the pair may continue growing towards 1.2650.
Orgin: RoboForex
