Currency pair US Dollar Canadian Dollar USD/CAD is trading at 1.3439. The pair is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the pair US Dollar Canadian Dollar. As part of the Canadian Dollar Forecast USD/CAD March 8, 2019. The test of the lower border of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.3350. Where can we expect an attempt to rebound and continue to grow the pair USD/CAD with a potential goal at the level of 1.3595.
Canadian Dollar Forecast USD/CAD March 8, 2019
An additional signal in favor of the growth of the pair USD/CAD will be a rebound from the support area. The second signal will be the test of the lower boundary of the ascending channel. Earlier, a weak signal was received for BUY the US Dollars/Canadian Dollar. The signal was formed due to the intersection of signal lines at the level of 1.3185.
Cancellation of the growth option of the USD/CAD pair will be a breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the level of 1.3225. Such a scenario would indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair. Expect acceleration of growth of the USD/CAD quotes with the breakdown of the resistance area and closing above the level of 1.3485.
Canadian Dollar Forecast USD/CAD March 8, 2019 involves an attempt to test the support level near the 1.3350 area. Where can we expect to continue the growth of the currency pair with a potential target near the level of 1.3595. Cancellation of the lifting of the pair will be the breakdown of the area of 1.3225. This will indicate a continuation of the fall of the US Dollar against the Canadian Dollar.