Currency pair US Dollar to Canadian Dollar USD/CAD is trading at the level of 1.3707. The pair is traded within the Ichimoku Kinko Hyo Cloud, indicating a flat trend for the pair US Dollar to Canadian Dollar. Ichimoku Kinko Hyo Cloud is expected to test near the 1.3660 level, from which it is expected to test the upper boundary of the Ichimoku Kinko Hyo Cloud near the level of 1.3700.
Technical analysis & forecast USD/CAD on May 16, 2017
Earlier, a medium strength signal was generated for purchases of the pair US Dollar to Canadian Dollar, due to the crossing of signal lines at the level of 1.3705. Consider buying USD/CAD is worth with the breaking of the upper boundary of the Cloud Ichimoku Kinko Hyo and closing of quotes above the level of 1.3750, in case of breaking through the lower boundary of the Cloud Ichimoku Kinko Hyo it is necessary to expect the continuation of the development of the downtrend in USD/CAD.