Gold price ended last Friday below 1825.15, to hint heading to decline on the intraday basis, but we notice that the intraday bullish channel’s support line attempts to protect the price from suffering more losses, supported by stochastic and the EMA50 positivity.

Therefore, the contradiction between the technical factors makes us prefer staying aside until we get clearer signal for the next trend, noting that the continuation of the negative pressure and breaking 1810.00 will push the price to achieve more decline and test 1797.00 level initially, while breaching 1825.15 represents the key to reactivate the positive scenario that its next target located at 1860.00.

The expected trading range for today is between 1795.00 support and 1830.00 resistance.

The expected trend for today: Neutral

The USDCAD pair continues to rise to approach our waited target at 1.2650, and the EMA50 continues to provide the positive support to the price, to reinforce the chances of continuing the rise and achieve more gains on the short term basis, noting that surpassing the mentioned level will push the price to 1.2760 as a next main target.

On the other hand, we should note that holding above 1.2500 is important to achieve the suggested targets.

The expected trading range for today is between 1.2570 support and 1.2700 resistance.

The expected trend for today: Bullish

The USDJPY pair resumed its negative trading after testing the EMA50 in the previous sessions, to head towards visiting our main waited target at 109.22, supported by stochastic negativity.

Therefore, the bearish trend scenario will remain valid and active for the upcoming period unless the price rallied to breach 110.65 and hold with a daily close above it.

The expected trading range for today is between 109.20 support and 110.40 resistance

The expected trend for today: Bearish

The GBPUSD pair broke 1.3805 level strongly and ended last week below it, to activate the bearish trend scenario on the intraday and short term basis, on its way to visit 1.3670 as a next negative target.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1.3805 will stop the negative scenario and push the price to start recovery attempts on the intraday basis.

The expected trading range for today is between 1.3660 support and 1.3820 resistance.

The expected trend for today: Bearish