Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2658. The pair continues to trade 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 1.2620, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.2910.
USD/CAD forecast for the week on February 26 — March 2, 2018
An additional signal in favor of the growth of the pair will be the test of the upper boundary of the bearish channel. Earlier, a weak signal was received for buy of the pair US Dollar/Canadian Dollar, due to the crossing of signal lines at 1.2420. 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 area of 1.2400, 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 level and the closing above the level of 1.2820.
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