Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Forex

USD/CAD: Losses need to extend below 1.3540 to put any sort of technical pressure – Scotiabank

Source Fxstreet

USD/CAD trades little changed on the session. Economists at Scotiabank analyze the pair’s outlook.

Further strength in commodity prices may give the CAD reason to improve

Further strength in commodity prices may give the CAD reason to improve but, for now, negative spreads and changeable risk appetite seem likely to keep it subdued.

The USD’s early 2024 uptrend remains intact on the chart short-term price action does suggest some resistance developing around the 1.3600 point. High upper shadows on the daily candle chart imply firm selling pressure on USD gains above the figure.

The intraday chart actually shows a clear, bearish rejection of Thursday’s push to the figure zone. Trend momentum remains USD-bullish, however, and spot losses need to extend below 1.3540 to put any sort of technical pressure on the USD from here.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

JPMorgan claims native crypto investors spearheaded last week's heavy liquidation JPMorgan analysts claim that crypto-native investors largely drove the crypto market dip last week, while institutional products felt a minor impact.

Author FXStreet

Oct 17, 2025

JPMorgan analysts claim that crypto-native investors largely drove the crypto market dip last week, while institutional products felt a minor impact.

ECB Policy Outlook for 2026: What It Could Mean for the Euro’s Next Move With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Author Mitrade

Dec 26, 2025

With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.

Gold Price Forecast: XAU/USD jumps above $4,350 on US-Venezuela tensions Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.

Author FXStreet

Jan 05, Mon

Gold price (XAU/USD) climbs to around $4,370 during the early Asian trading hours on Monday. The precious metal extends its upside amid a renewed surge in geopolitical risk after the United States' (US) capture of Venezuelan President Nicolas Maduro.

WTI surges above $74.00 as US-Iran strikes reignite Hormuz risks West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.

Author FXStreet

Yesterday 01: 15

West Texas Intermediate (WTI) oil price rises after two days of losses, trading around $74.20 during the Asian hours on Monday.

Gold slides back closer to $4,050 as Iran risks and Fed hike bets boost USD Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.

Author FXStreet

22 hours ago

Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.

Related Instrument