Gold price trading settles above the main bullish channel’s support that appears in the above chart, which keeps the bullish trend scenario valid on the intraday and short term basis, supported by the completion of the bullish pennant flag that forms positive motive that we wait to assist to push the price to head towards our expected main target at 1295.37.

Therefore, we will keep preferring the bullish trend in the upcoming sessions, which gets good support from the EMA50, being aware that holding above 1262.00 represents the first condition for the continuation of the suggested rise, where breaking it will push the price to test the most important support at 1249.94 before any new attempt to rise.

Expected trading range for today is between 1250.00 support and 1280.00 resistance.

Expected trend for today: Bullish

The USDCAD pair shows sideways trading in the last sessions settled below the previously broken support of the main bullish channel that appears in the image, while the EMA50 forms negative pressure against the intraday trading, which keeps the negative scenario valid in the upcoming period.

Therefore, we wait for negative trading for today, and the targets begin by breaking 1.3395 level to ease heading to our main target at 1.3310, reminding you that the continuation of the expected decline depends on the stability below 1.3574 level.

Expected trading range for today is between 1.3310 support and 1.3550 resistance.

Expected trend for today: Bearish

The USDJPY pair trading settles near the bearish channel’s resistance that appears in the image, which meets the EMA50 to strengthen it, while stochastic loses its positive momentum gradually, which supports the chances for bouncing lower to resume the main bearish trend.

Therefore, our bearish trend expectations will remain valid in the upcoming period, and its main targets begin at 109.00, taking into consideration that breaching 111.65 level will motivate the price to achieve intraday gains that reach to 113.97 before any new attempt to decline.

Expected trading range for today is between 110.50 support and 112.00 resistance.

Expected trend for today: Bearish

The GBPUSD pair ended last week trading below 1.2890, which confirms the continuation of the negative pressure on the intraday basis, waiting for testing 2.2720 level mainly, pointing that we expect a bullish rebound after hitting the mentioned level to resume the main bullish trend.

Therefore, the bearish bias will be preferred for today, being aware that breaking the targeted level will extend the pair’s losses to reach 1.2550, while the expected decline will remain valid unless breaching 1.2890 level and holding above it.

Expected trading range for today is between 1.2720 support and 1.2900 resistance.

Expected trend for today: Bearish