The USD/CAD is trading at 1.3124, inside the Ichimoku cloud, which means the pair is trading sideways. We expect a test of the lower cloud boundary at 1.3120, and then an upward pullback to 1.3235, which will be confirmed with the price bouncing off the lower boundary of the descending channel. This rise may be prevented in case price breaks out the lower boundary and closes below 1.3080, which will be a signal for a further fall to 1.3010 and below. The rise will get confirmed once the upper cloud boundary is broken out and the price closes above 1.3205.
Orgin: RoboForex
