Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.3062. 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 test area of Ichimoku Kinko Hyo signal lines near the level of 1.2980 is expected, from which it is expected to attempt a rebound and continue growth with a target at 1.3225.
Canadian Dollar forecast USD/CAD on March 21, 2018
An additional signal in favor of the growth of the pair will test the support area. Earlier, a medium strength signal was received for buy of the US Dollar/Canadian Dollar, due to the crossing of the signal lines at the level of 1.2990.
The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the level of 1.2870, which will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations USD/CAD stands with the breakdown of the resistance area and closing above the level of 1.3140.
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