The US Dollar today had a good rally against pretty much all major currencies, the CAD however broke some major resistance levels on the 4HR and day chart Ichimoku clouds. Should the 4HR candle stay above the cloud I see a confirmation of this pair continuing the bull trend that regained momentum today in a big way. On the day chart the ADX/DMI and Stochastic Oscillator are both showing signs of momentum gaining on the upside. I really see this pair closing the week on a high. Tomorrow we have initial jobless claims and Markit PMI as the main data releases, even as expected data will probably be sufficient to propel the dollar higher.

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