Gold price opened today with strong rise to breach the bullish channel’s resistance line and head towards resuming the main bullish trend, on its way to achieve gains that start by testing 2790.00$ level.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the positive trades, noting that breaking 2762.00$ will stop the bullish wave and push the price to start bearish wave on the intraday basis.

The expected trading range for today is between 2755.00$ support and 2795.00$ resistance.

Trend forecast: Bullish

The USDCAD price faced new negative pressure to break the bullish channel’s support line and settle below it, starting today with additional negativity to confirm the domination of the bearish trend on the intraday basis, targeting visiting 1.4220$ areas as a next main station.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that breaching 1.4400$ followed by 1.4467$ levels will stop the bearish correction and lead the price to resume the main bullish trend again.

The expected trading range for today is between 1.4260$ support and 1.4390$ resistance

Trend forecast: Bearish

The USDJPY price couldn’t manage to hold for long time above 156.45, to trade negatively and head towards visiting 38.2% Fibonacci correction level at 154.96 again, noting that breaking this level will push the price out of the bullish channel to achieve more bearish correction that targets 153.75 areas as a next main station.

Therefore, the bearish bias will be suggested for today unless breaching 156.45 and holding above it.

The expected trading range for today is between 155.00 support and 156.50 resistance

Trend forecast: Bearish

The GBPUSD price bounced upwards clearly after the consolidation of 1.2300$ support line against the recent negative attempts, to approach the main bearish channel’s resistance now, and we prefer to stay aside until the price confirms its situation according to the key levels represented by the mentioned support and 1.2440$ resistance.

Note that the continuation of the rise and breaching this resistance will push the price to start bullish correction that its first main target located at 1.2610$, while breaking the support represents the key to resume the main bearish trend and head to achieve negative targets that start by visiting 1.2210$ areas.

The expected trading range for today is between 1.2300$ support and 1.2475$ resistance

Trend forecast: Neutral