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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SOURCE
SPX
S&P 500 Index
7491.50
7491.50
7491.50
7506.32
7463.29
+45.77
+ 0.61%
--
--
DJI
Dow Jones Industrial Average
50744.56
50744.56
50744.56
50830.24
50434.65
+458.91
+ 0.91%
--
--
IXIC
NASDAQ Composite Index
26418.96
26418.96
26418.96
26504.55
26309.80
+125.88
+ 0.48%
--
--
USDX
US Dollar Index
99.140
99.140
99.220
99.340
99.080
0.000
0.00%
--
--
EURUSD
Euro / US Dollar
1.16139
1.16139
1.16147
1.16210
1.15880
-0.00028
-0.02%
--
--
GBPUSD
Pound Sterling / US Dollar
1.34498
1.34498
1.34509
1.34625
1.34129
+0.00213
+ 0.16%
--
--
XAUUSD
Gold / US Dollar
4518.56
4518.56
4518.90
4545.94
4491.55
-24.32
-0.54%
--
--
WTI
Light Sweet Crude Oil
95.124
95.124
95.154
98.439
93.817
-2.059
-2.12%
--
--
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USD/CAD Climbs for Fourth Day as Hawkish Fed Bets Lift Greenback
Summary:
USD/CAD extended its rally for a fourth straight session as rising expectations of a more hawkish Federal Reserve boosted the US Dollar, while softer Oil prices weighed heavily on the Canadian Dollar amid easing fears surrounding global supply disruptions.
TRADING
1.38000
Entry Price
1.38500
TP
1.37400
SL
1.38106 +0.00330 +0.24%
0.0
Pips
Flat
1.37400
SL
Exit Price
1.38000
Entry Price
1.38500
TP
USD/CAD remained firmly supported on Friday, hovering near the 1.3790 region as traders continued to favor the US Dollar amid growing expectations that the Federal Reserve will maintain a restrictive monetary policy stance for longer.
Markets are increasingly pricing out the possibility of rate cuts this year as persistent energy-related inflation risks linked to disruptions around the Strait of Hormuz keep pressure on the Fed to stay hawkish. Investors are also closely watching the transition at the Federal Reserve, with President Donald Trump set to swear in Kevin Warsh as the new Fed Chair later on Friday.
The Canadian Dollar remained under pressure as Crude Oil prices declined for a third consecutive session. WTI slipped toward $96.80 per barrel as optimism surrounding potential US-Iran negotiations eased fears of severe supply disruptions in global energy markets.
Comments from US Secretary of State Marco Rubio suggesting progress in talks with Tehran helped calm market tensions, although Iranian officials stated that no formal agreement has yet been reached.
From my perspective, the combination of stronger Fed expectations and weaker Oil prices continues to favor further upside in USD/CAD in the near term, particularly while geopolitical uncertainty and inflation risks remain elevated.
Technical Analysis
From a technical perspective, USD/CAD remains positioned within a well-defined bullish ascending channel on the 1-hour chart, with price action continuing to respect higher highs and higher lows. The pair has recently broken above the intermediate resistance zone near 1.3770 and is now consolidating just beneath the psychologically important 1.3800 handle. This consolidation appears constructive rather than corrective, suggesting buyers remain in control despite slowing short-term momentum.
The lower boundary of the ascending channel, currently extending from the 1.3740–1.3750 region, continues to provide dynamic trend support and reinforces the broader bullish structure. As long as price remains above this trendline support, the overall upside bias remains intact. A sustained breakdown below the channel floor would weaken bullish momentum and expose a deeper retracement toward the 1.3730 support zone, where previous accumulation occurred. Failure to hold above that level could trigger a broader correction toward the 1.3700 psychological area, signaling deterioration in short-term market structure.
On the upside, bulls remain focused on securing a decisive breakout above the immediate resistance area near 1.3800. Price has already tested this region multiple times, indicating building pressure beneath resistance. A confirmed move above this barrier would likely accelerate bullish continuation toward the projected ascending channel target around 1.3850, which aligns with the upper channel resistance shown on the chart. Beyond that, further momentum could open the door toward 1.3880–1.3900 in extension.
Price behavior inside the recent consolidation range also suggests the formation of a bullish continuation structure. The series of shallow pullbacks and aggressive recoveries indicates demand remains strong on dips, while buyers continue defending higher intraday lows. This type of compression near resistance often precedes breakout expansion, particularly when aligned with the prevailing trend direction.
Momentum conditions favor continued upside, although short-term momentum appears slightly moderated following the latest impulsive move higher. The inability of sellers to force a meaningful rejection from the 1.3800 resistance zone suggests bullish pressure remains dominant. While temporary consolidation or minor retracements may occur, the broader structure continues to support a bullish continuation scenario unless key support levels fail decisively.
TRADE RECOMMENDATION
BUY USD/CAD
ENTRY PRICE: 1.3800
STOP LOSS: 1.3740
TAKE PROFIT: 1.3850
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