Gold price bounced downwards clearly after touching the bullish channel’s resistance that appears on the chart, to achieve some bearish correction for the last rise that it started from 1547.50 areas, as the price settles around 23.6% Fibonacci correction level at 1655.90, and the price needs to consolidate above this level to assure not facing more negative pressure.

Stochastic gets rid of its negative momentum clearly to support the chances of resuming the main bullish trend, to keep our overall bullish overview that its next main target located at 1720.00, noting that breaking 1655.90 followed by 1635.20 levels will press on the price to achieve more decline and visit 1601.70 areas before any new attempt to rise.

The expected trading range for today is between 1640.00 support and 1680.00 resistance.

The expected trend for today: Overall Bullish

The USDCAD pair traded with clear positivity yesterday to test the key resistance 1.3285 and settles around it, starting today with bearish bias that hints the price head to resume the decline on the intraday and short term basis, waiting to break 1.3241 level to confirm opening the way to achieve our negative targets that start at 1.3187 and extend to 1.3100.

Therefore, we will keep our bearish overview for the upcoming sessions, noting that confirming breaching 1.3285 will stop the suggested decline and leads the price to regain the main bullish trend.

The expected trading range for today is between 1.3200 support and 1.3320 resistance.

The expected trend for today: Bearish

The USDJPY pair broke 111.30 level strongly to start bearish correction for the last bullish wave, while on the other hand, the price heads to visit the bullish channel’s support line that appears on the chart according to the trading rules inside the channels after touching the mentioned channel’s resistance line recently.

Therefore, the bearish bias will be suggested in the upcoming sessions, and breaking 110.27 will confirm opening the way to head towards 109.24 as a next main target, noting that breaching 111.30 will stop the current negative pressure and leads the price to resume the main bullish trend.

The expected trading range for today is between 110.00 support and 111.30 resistance

The expected trend for today: Bearish

The GBPUSD pair fluctuates around 1.2920 level, noticing that the EMA50 forms good negative pressure to support the expectations of continuing the recently suggested negative scenario, which moves inside the bearish channel that appears on the chart, waiting to resume the bearish bias to head towards 1.2736 level that represents our next correctional station.

Therefore, we will keep our bearish overview for the upcoming period unless breaching 1.2970 level and holding above it.

The expected trading range for today is between 1.2850 support and 1.3000 resistance.

The expected trend for today: Bearish