Currency pair US Dollar Canadian Dollar USD/CAD completes the trading week near the level of 1.3328. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for the pair US Dollar/Canadian Dollar. In the current trading week, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 1.3305. Where should we expect an attempt to rebound and continue to grow with a goal near the level of 1.3745.
USD/CAD Forecast for the week April 15 — 19, 2019
An additional signal in favor of reducing the USD/CAD currency pair will be the test of the support area. As well as a rebound from the lower boundary of the model «Triangle». Earlier, a weak signal was received for SELL the US Dollar/Canadian Dollar pair. The signal was formed due to the intersection of signal lines at the level of 1.3320.
Cancellation of the growth option of the pair’s quotes will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below area 1.3225. This will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall of the pair on FOREX. USD/CAD is expected to accelerate the growth of quotations with the breakdown of the upper limit of the «Triangle» model and closing above the level of 1.3475.
USD/CAD Forecast for the week April 15 — 19, 2019 suggests an attempt to develop a correction to the level of 1.3305. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 1.3745. A test of the support area will be in favor of the climb. Cancellation of the growth of the currency pair will breakdown area 1.3225. In this case, we should expect the continuation of the fall.