USDCAD is trading at 1.3256; the instrument is moving inside Ichimoku Cloud, thus indicating a sideways tendency. The markets could indicate that the price may test the cloud’s downside border at 1.3245 and then resume moving upwards to reach 1.3415. Another signal to confirm further ascending movement is the price’s rebounding from the rising channel’s downside border.
However, the scenario that implies further growth may be canceled if the price breaks the cloud’s downside border and fixes below 1.3205. If the instrument breaks 1.3325 close to the cloud’s upside border, the price may resume moving upwards.
Orgin: RoboForex
