Gold price approached our waited positive target at 1765.00 and bounced bearishly to test the EMA50, showing slight bias now to head towards new test to the key support 1731.00, which urges caution from the upcoming trading, as breaking this level will turn the intraday trend downwards.

Until now, we will continue to suggest the bullish trend for the upcoming period unless breaking 1731.00 and holding below it, noting that the EMA50 and stochastic support the expected rise, waiting to test 1765.00 initially, which breaching it represents the key to rally to achieving additional gains that reach 1800.00 followed by 1838.00.

The expected trading range for today is between 1727.00 support and 1760.00 resistance.

The expected trend for today: Bullish

The USDCAD pair broke the intraday bullish channel’s support line and settled below it, which leads the price to turn to decline and resume the main bearish trend again, to head towards achieving negative targets that start at 1.2465 and extend to 1.2365.

Therefore, the bearish bias will be expected for the upcoming sessions, noting that breaching 1.2565 and holding above it will stop the suggested decline and push the price to recover again.

The expected trading range for today is between 1.2475 support and 1.2610 resistance.

The expected trend for today: Bearish

The USDJPY pair bounced upwards clearly after touching 109.22 level, to approach 110.00 barrier, noticing that the price returns to decline now to hint heading to resume the recently suggested bearish trend, waiting to break 109.22 to confirm extending the bearish wave towards 108.40 as a next negative target.

Stochastic provides negative signals that support the chances of achieving the required break, thus, the bearish trend scenario will remain valid and active for today unless breaching 109.85 and holding above it.

The expected trading range for today is between 108.80 support and 110.00 resistance

The expected trend for today: Bearish

The GBPUSD pair settles below the correctional bearish channel’s resistance, falling under continuous negative pressure formed by the EMA50, while stochastic begins to overlap negatively now.

Therefore, these factors support the continuation of the expected bearish trend for the upcoming period, which its next target located at 1.3580, while achieving it requires holding below 1.3770.

The expected trading range for today is between 1.3600 support and 1.3740 resistance.

The expected trend for today: Bearish