USD/CAD Forecas: expected is correction

usd_cad_1USDCAD is trading at 1.2946; the instrument is moving above Ichimoku Cloud, which means that it may continue growing. The markets could indicate that the price may test the upside border of the cloud at 1.2930 and then continue moving upwards to reach 1.3090. Another signal to confirm further ascending movement is the price’s rebounding from the support level.

However, the scenario that implies further growth may be cancelled if the price breaks the downside border of the cloud and fixes below 1.2870. In this case, the pair may continue falling towards 1.2745. After breaking the upside border of the Triangle pattern and fixing above 1.2995, the price may continue moving upwards.

USDCAD

Orgin: RoboForex

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