Gold price opens today’s trading with clear positivity to resume the main bullish trend, waiting to test the bullish channel’s resistance line that rises now to 2742.00$.

Stochastic current negativity might slow down the suggested bullish wave, noting that breaking the channel’s support line at 2693.00$ will stop the bullish trend and push the price to start bearish correction that its first target located at 2672.00$.

The expected trading range for today is between 2705.00$ support and 2745.00$ resistance.

Trend forecast: Bullish

The USDCAD price showed high volatility yesterday, as it attacked the bullish channel’s support line to reach 1.4260$ areas, followed by strong bullish rebound to touch 1.4467$ level again, facing contradiction between the technical indicators that makes us prefer to stay aside until we get clearer signal for the next trend, through breaching 1.4467$ resistance or breaking 1.4360$ support.

Note that breaching the mentioned resistance will lead the price to continue the main bullish trend and head to visit 1.4600$ areas on the near-term basis, while breaking the support represents the key to start bearish correction that its first target located at 1.4220$.

The expected trading range for today is between 1.4340$ support and 1.4490$ resistance

Trend forecast: Neutral

The USDJPY price resumed its negative trading to touch the first waited target at 154.96, starting today with more decline to attempt to break this level, to support the chances of continuing the correctional bearish trend and head to achieve new negative targets that reach 154.35 followed by 153.75.

The negative pressure formed by the EMA50 supports the expected bearish trend, which will remain valid unless the price rallied to breach 156.45 and hold above it.

The expected trading range for today is between 154.15 support and 155.80 resistance

Trend forecast: Bearish

The GBPUSD price shows new positive trades to attack 1.2300$ level and attempts to hold above it, which hints heading to achieve more expected gains in the upcoming sessions, targeting visiting the bearish channel’s resistance line around 1.2470$ mainly.

Moving above the EMA50 supports the expected rise, while breaking 1.2265$ will stop the bullish trend and push the price to resume the main bearish trend again.

The expected trading range for today is between 1.2240$ support and 1.2390$ resistance

Trend forecast: Bullish