Technical analysis and FOREX forecast USD/CAD

news_22_feb_cad_usd_2USDCAD is trading at 1.3232; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s upside border at 1.3260 and then resume moving downwards to reach 1.3075. Another signal to confirm further descending movement is the price’s rebounding from the descending channel’s upside border.

However, the scenario that implies further decline may be canceled if the price breaks the cloud’s upside border and fixes above 1.3275. In this case, the pair may continue growing towards 1.3345.

USDCAD

Orgin: RoboForex

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