Currency pair US Dollar Canadian Dollar USD/CAD closes the trading week near the level of 1.2890. 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 test area of Ichimoku Kinko Hyo signal lines near the level of 1.2750 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 1.3250.
USD/CAD forecast for the week April 2 — 6, 2018
An additional signal in favor of the growth of the pair will be a test of the lower boundary of the bullish 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 the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1.2600, 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 1.3150.