The currency pair US dollar Canadian dollar USD/CAD is trading at 1.3444. The pair is trading above the upper limit of the Ichimoku Cloud, which indicates the presence of an upward trend in the pair US Dollar Canadian dollar. A test of the signal line area near the level of 1.3420 is expected, from which one should expect an attempt of growth and development of the bull tendency on the pair with the purpose of growth near the level of 1.3500.
Ichimoku Kinko Hyo USD/CAD Forecast on April 7, 2017
Earlier, a medium strength signal was received for purchases of the US dollar pair of the Canadian dollar, due to the crossing of the signal lines at 1.3350 level. The cancellation of the growth option will be a breakdown of the lower boundary of the Ichimoku Cloud with the closing of quotations below the area of 1.3340, which will indicate a shift in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/CAD stands with the breakdown of the local maximum area at 1.3460.
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