Currency pair US Dollar Canadian Dollar USD/CAD completes the trading week near the level of 1.3160. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud.
This indicates the presence of an upward trend for the pair US Dollar Canadian Dollar. The current trading week is expected to test the area of signal lines Ichimoku Kinko Hyo near the level of 1.3085. Where should we expect an attempt to rebound and continue to grow with a goal near the level of 1.3425.
USD/CAD forecast for the week November 19 — 23, 2018
An additional signal in favor of the growth of the USD/CAD currency pair will be the test of the support area. And also test the lower boundary of the ascending channel. Earlier, a weak signal was received for BUY the US Dollar/Canadian Dollar pair, due to the intersection of signal lines at 1.2980.
Cancellation of the growth of quotations of the pair will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1.2975. 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. Expect acceleration of growth of the USD/CAD quotes from the resistance area and closing above the level of 1.3285.
USD/CAD forecast for the week November 19 — 23, 2018 suggests an attempt to develop a correction to the level of 1.3085. Where can we expect a rebound and continued growth of the pair with a potential target near the level of 1.3425. The test of support area will be in favor of growth. The cancellation of the growth of the currency pair will be a breakdown of the 1.2975 area. In this case, we should expect the continuation of the fall.