Gold price fluctuates around 38.2% Fibonacci correction level for the rise measured from 1122.47 to 1295.37, noticing that the price settles below the bullish channel's support that appears on the above chart, which keeps the negative pressure valid, to expect extending the bearish correction on the short term basis, as our next target is located at 1208.92.

Therefore, the decline will be suggested in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 1244.00 followed by 1250.00 levels will stop the suggested decline and push the price to regain its main bullish track again.

Expected trading range for today is between 1215.00 support and 1240.00 resistance.

Expected trend for today: Bearish

The USDCAD pair bounced lower clearly after the approach from 1.3800 barrier, and the price affected by stochastic negativity that appears on the daily time frame, which attempts to gain positive momentum accompanied with the price approach from the critical support base at 1.3574.

The price remains within the bullish channel that appears in the above chart, which keeps the bullish trend scenario valid in the upcoming period, supported by the EMA50, reminding you that our next main target at 1.3836, conditioned by holding above1.3574 level.

Expected trading range for today is between 1.3574 support and 1.3750 resistance.

Expected trend for today: Bullish

The USDJPY pair fluctuates near the bearish channel’s resistance that appears in the above chart, and the price needs to breach this level that located at 112.75 to confirm the extension of the bullish wave towards our expected main target at 113.97.

In general, the positive effect of the inverted head and shoulders pattern remains active, which completed by breaching 111.65, to keep the bullish trend preferred in the upcoming sessions, pointing that the targets of this pattern surpass the above mentioned level, while the suggested rise will remain valid unless breaking 111.65 level and holding below it.

Expected trading range for today is between 112.00 support and 113.97 resistance.

Expected trend for today: Bullish

The GBPUSD pair succeeded to confirm breaching the bullish flag pattern’s resistance that appears in the image, to get positive motive that pushes the price to resume the main bullish trend, and the way is open for targeting 1.3100 level in the upcoming period.

Therefore, the bullish trend will remain preferred on the intraday and short term basis, supported by the EMA50 that keeps carrying the price from below, taking into consideration that breaking 1.2890 level will stop the suggested rise and pushes the price to test 1.2720 levels before detecting its next trend clearly.

Expected trading range for today is between 1.2900 support and 1.3080 resistance.

Expected trend for today: Bullish