Gold price rally stopped below 1797.00, as it faced cluster of resistance lines that appear on the chart, accompanied by witnessing overbought signals by stochastic, to form negative factors that we expect to press on the price to rebound bearishly in the upcoming sessions.

Therefore, we expect to witness negative trades today, and the first main target is represented by testing 1770.00 level, taking into consideration that breaching 1797.00 will stop the expected decline and lead the price to achieve new rises that reach 1825.15.

The expected trading range for today is between 1770.00 support and 1800.00 resistance.

The expected trend for today: Bearish

The USDCAD pair trades negatively to move away from 1.2495 level, reinforcing the expectations of continuing the bearish trend, and the way is open to visit 1.2365 that represents our next correctional station.

Therefore, the bearish bias will remain dominant and suggested for the upcoming sessions, supported by the EMA50 that presses negatively on the price, noting that breaking the targeted level will extend the bearish wave to reach 1.2230, while holding below 1.2495 represents key condition to continue the expected decline.

The expected trading range for today is between 1.2365 support and 1.2480 resistance.

The expected trend for today: Bearish

The USDJPY pair opens today with clear positivity to resume the bullish trend, supported by stochastic positivity that appears on the four hours’ time frame, besides the EMA50 that continues to carry the price from below.

Therefore, we are waiting for more rise in the upcoming sessions, noting that our next target is located at 114.00, while holding above 113.10 represents key condition to achieve it.

The expected trading range for today is between 113.00 support and 114.20 resistance

The expected trend for today: Bullish

The GBPUSD pair managed to breach 1.3660 level and closed the last four hours’ candlestick above it, which supports the continuation of our bullish overview efficiently in the upcoming sessions, paving the way to achieve positive targets that start at 1.3720 followed by 1.3795.

The EMA50 supports the expected rise, noting that the continuation of the bullish wave requires holding above 1.3600.

The expected trading range for today is between 1.3600 support and 1.3760 resistance.

The expected trend for today: Bullish