The 38.2% Fibonacci correction level managed to stop the strong decline that Gold price witnessed yesterday, to start the attempts to surpass the resistance barrier located at 1503.25, noticing that stochastic shows positive signals that we are waiting to motivate the price to achieve the required breach followed by resuming the main bullish trend.

Therefore, we will keep our bullish overview conditioned by the price stability above 1483.60, reminding yout hat our next main target is located at 1560.00.

The expected trading range for today is between 1485.00 support and 1530.00 resistance.

The expected trend for today: Bullish

The USDCAD pair tested the key resistance 1.3286 yesterday and bounced downwards strongly to attack the bullish channel’s support line that appears on the chart, as it moves below it now, which keeps the bearish trend scenario valid and active for the upcoming period, on its way to achieve negative targets that start at 1.3150 and extend to 1.3050.

Therefore, the bearish trend will remain dominant for today unless the price rallied to breach 1.3286 level and hold above it.

The expected trading range for today is between 1.3140 support and 1.3300 resistance.

The expected trend for today: Bearish

The USDJPY pair rallied upwards strongly yesterday to breach 105.50 and achieve bullish correction for the bearish wave that start from 109.32 to 105.05, noticing that the price found solid resistance at 38.2% Fibonacci correction level, to start bouncing bearishly from there, accompanied by stochastic loss to the positive momentum and reaching the overbought areas.

Therefore, we believe that the chances are valid to resume the main bearish trend, which its next main target located at 104.60, while breaching 106.70 represents the key to extend the correctional bullish wave to reach 107.70 as a next station.

The expected trading range for today is between 105.50 support and 107.00 resistance

The expected trend for today: Overall Bearish

The GBPUSD pair shows slight negative trades in attempt to move away from 1.2080, thus, our bearish overview will remain valid as it is without any change, supported by the negative pressure formed by the EMA50, waiting to visit 1.1930 level that represents our next main target, noting that breaching 1.2080 will push the price to achieve intraday gains that start at 1.2150 before any new attempt to decline.

The expected trading range for today is between 1.1960 support and 1.2130 resistance.

The expected trend for today: Bearish