Currency pair US Dollar Canadian Dollar USD/CAD completes the trading week near the level of 1.3140. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend for the US Dollar/Canadian Dollar pair. The current trading week is expected to test the lower limit of the Ichimoku Kinko Hyo Cloud near the level of 1.3245. Where should we expect an attempt to rebound and continue to fall with a goal near the level of 1.2835.

USD/CAD forecast for the week March 4 — 8, 2019

An additional signal in favor of reducing the USD/CAD currency pair will be a test of the resistance area. As well as a rebound from the upper limit of the model «Triangle”. Earlier, a strong 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 1.3155.

USD/CAD forecast for the week March 4 — 8, 2019

Cancellation of the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of ​​1.3385. This will indicate a change in the downward trend in favor of the upward trend and continued growth of the pair on Forex. USD/CAD is expected to accelerate the fall in quotes with the breakdown of the support area and closing below 1.3055.

USD/CAD forecast for the week March 4 — 8, 2019 suggests an attempt to develop a correction to the level of 1.3245. Where can we expect a rebound and the continuation of the fall of the pair with a potential target near the level of 1.2835. In favor of the reduction will make the test area of ​​resistance. The cancellation of the option to reduce the currency pair will be the breakdown of the area of ​​1.3385. In this case, we can expect continued growth.