Strong Future Expected for the Canadian Dollar

The Canadian Index is moving sideways on the 4-hour timeframe.

So far, the movement shows some signs of accumulation.

Therefore, we expect to see a continuation of the upward 

movement if it breaks through and closes 

above the resistance levels shown on the chart.

Expected Targets

If the 4-hour candle breaks through and closes above the resistance levels shown,

 which represent the upper limit of the current sideways movement,

 we expect to see a continuation of the upward movement towards

 the targets located at the 1.5110 and 1.5150 levels.

The analysis is invalidated if the 4-hour candle breaks

 and closes below the support levels, 

which represent the lower limit of the sideways movement.