Currency pair US Dollar to Canadian Dollar USD/CAD is closing the trading week at 1.3507. The pair is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an upward trend in the pair US Dollar to Canadian Dollar USD/CAD. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level 1.3390, from which one should expect an attempt of growth and development of the bullish trend for the pair with a target of growth near the level 1.3710.
USD/CAD weekly forecast on May 22 — 26, 2017
Previously, a strong signal was generated for the buy of the pair US Dollar to Canadian Dollar USD/CAD, due to the crossing of signal lines at 1.3350 level. 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 quotes below the area of 1.3410, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations USD/CAD is with the breakdown of the local maximum area at 1.3660.
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