Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.3335. The pair is trading inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a side trend for the US Dollar/Canadian Dollar. As part of the Canadian Dollar Forecast USD/CAD March 20, 2019. A test of the Ichimoku Kinko Hyo signal lines is expected near the level of 1.3345. Where should we expect an attempt to rebound and continue the fall of the pair USD / CAD with a potential target at the level of 1.3180.
Canadian Dollar Forecast USD/CAD March 20, 2019
An additional signal in favor of the fall of the USD/CAD pair will be a rebound from the resistance area. The second signal will be the test of the lower boundary of the ascending channel. Earlier, a weak signal was received for SELL the pair Canadian Dollar. The signal was formed due to the intersection of signal lines at the level of 1.3405.
Canceling the option of falling quotations of the USD/CAD pair will be the breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the level of 1.3350. Such a scenario would indicate a change in the side trend in favor of a bullish trend and continued growth of the pair. Expect to accelerate the decline of the USD/CAD quotes with the breakdown of the lower boundary of the Indicator cloud and closing below 1.3255.
Canadian Dollar Forecast USD/CAD March 20, 2019 implies an attempt to test the resistance level near the 1.3345 area. Where can we expect to continue to reduce the currency pair with a potential target near the level of 1.3180. Cancellation of the fall of the pair will be the breakdown of the area of 1.3350. This will indicate a continued appreciation of the US Dollar against the Canadian Dollar.