USD/CAD Forecast. Ichimoku Cloud Analysis

news_22_feb_cad_usd_2USDCAD is trading at 1.3435; the instrument is moving below Ichimoku Cloud, thus indicating a descending tendency. The markets could indicate that the price may test the upside border of the cloud at 1.3445 and then resume moving downwards to reach 1.3340. Another signal to confirm further ascending movement is the price’s rebounding from the channel’s downside border.

However, the scenario that implies further decline may be cancelled if the price breaks the upside border of the cloud and fixes above 1.3465. In this case, the pair may continue growing towards 1.3535.

USDCAD

Orgin: RoboForex

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