Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.3268. The pair is trading below the lower limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a side trend for the US dollar Canadian Dollar pair. As part of the Canadian Dollar Forecast USD/CAD March 22, 2019. A test of the Ichimoku Kinko Hyo signal lines is expected near the level of 1.3295. Where can we expect an attempt to rebound and continue to fall in the pair USD/CAD with a potential target at the level of 1.3115.
Canadian Dollar Forecast USD/CAD March 22, 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/US 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 1.3385. Such a scenario would indicate a change in the side trend in favor of an upward trend and continued growth of the pair. Expect to accelerate the decline of the USD/CAD quotes with the breakdown of the support area and closure below 1.3235.
Canadian Dollar Forecast USD/CAD March 22, 2019 involves an attempt to test the resistance level near the area of 1.3295. Where can we expect to continue to reduce the currency pair with a potential target near the level of 1.3115. Cancellation of the fall of the pair will be the breakdown of the area of 1.3385. This will indicate a continued appreciation of the US Dollar against the Canadian Dollar.
