Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.2893. 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 the Ichimoku Kinko Hyo signal lines near the level of 1.2775 is expected, from which it is expected to attempt a rebound and continue growth with the target at 1.2995.
Canadian Dollar forecast USD/CAD on March 6, 2018
An additional signal in favor of the growth of the pair will be a test of the support area, as well as a test of the lower boundary of the bullish channel. 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 the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the level of 1.2635, which will indicate a change in the bullish trend in favor of the bearish trend. Expect the acceleration of USD/CAD quotes growth with the breakdown of the resistance area and the closing above the area of 1.2920.
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