USDCAD is trading at 1.2823; the instrument is moving inside Ichimoku Cloud, which means that it is moving sideways. The markets could indicate that the price may test the upside border of the cloud at 1.2860 and then continue moving downwards to reach 1.2685. Another signal to confirm further descending movement is the price’s rebounding from the upside border of the Triangle pattern.
However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.2885. In this case, the pair may continue growing towards 1.3050. After breaking the downside border of the cloud and fixing below 1.2795, the price may continue moving downwards.
Orgin: RoboForex
