Gold price opens today trading with clear positivity to breach 1913.15 and approach retesting the broken neckline of the head and shoulders’ pattern, which turns into key resistance now at 1917.50, noticing that the EMA50 meets this level to add more strength to it, which supports the chances of turning back to decline.

Now, we prefer to stay aside until the price confirms surpassing one of the above-mentioned levels followed by detecting its next destination clearly, noting that breaking 1913.15 support will push the price to resume the bearish trend that its next targets located at 1890.00 followed by 1873.50, while breaching 1917.50 resistance will stop the negative effect of the mentioned pattern and push the price to recover and achieve gains that start at 1929.00.

The expected trading range for today is between 1900.00 support and 1930.00 resistance.

The expected trend for today: Neutral

The USDCAD pair provided new negative trades to press on the key support 1.3500, moving within intraday bearish channel that supports the chances of breaking this level and open the way to continue the decline on the intraday basis, making the bearish bias suggested in the upcoming sessions, noting that breaking the mentioned level will push the price to 1.3455 followed by 1.3350 levels as main negative targets.

On the other hand, we should note that breaching 1.3540 will stop the expected decline and lead the price to turn to rise.

The expected trading range for today is between 1.3430 support and 1.3560 resistance.

The expected trend for today: Bearish

The USDJPY pair shows positive trades to approach 147.86 level again, supported by the EMA50 that carries the price from below, waiting to breach this level to open the way to head towards 149.00 as a next main target.

The bullish channel continues to organize the suggested bullish wave, waiting to get positive motive that assist to push the price to achieve the required breach and ease the mission of continuing the expected rise, noting that the continuation of the bullish wave requires holding above 146.85.

The expected trading range for today is between 146.80 support and 148.20 resistance

The expected trend for today: Bullish

The GBPUSD pair resumed its negative trading strongly yesterday to succeed achieving our first waited target at 1.2400 and settles near it, and we believe that the way is open to continue the decline and achieve more negative targets, which extend to 1.2310.

Therefore, the bearish trend scenario will remain and active, supported by the EMA50 that presses negatively on the price, taking into consideration that the continuation of the bearish wave requires holding below 1.2505.

The expected trading range for today is between 1.2320 support and 1.2480 resistance.

The expected trend for today: Bearish