Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2901. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the pair US Dollar/Canadian Dollar. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 1.2880, from which it is expected to attempt a rebound and continue growth with a target at 1.3080.
Canadian Dollar forecast USD/CAD on March 12, 2018
An additional signal in favor of the growth of the pair is the lower bound of the «Triangle» model. Previously, a strong signal was received for buy of the pair US Dollar/Canadian Dollar, due to crossing of signal lines at the level of 1.2690.
The cancellation of the growth of the pair’s quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 1.2750, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/CAD stands with the breakdown of the upper boundary of the model «Triangle» and closing above the area of 1.3010.
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