Gold Price Analysis

Expected Scenario

• The gold price traded positively in the previous sessions, breaching the 2340.10$ level and closing the daily candlestick above it, indicating a halt to the bearish correction and a potential return to the main bullish trend.
• The price is expected to target gains starting at 2410.00$ followed by 2450.00$ levels.
• Breaching 2365.65$ will facilitate achieving the suggested targets. However, current stochastic negativity may slow down the expected bullish wave. Breaking 2340.10$ will halt the bullish trend and push the price to decline again.

Expected Trading Range

Between 2340.00$ support and 2375.00$ resistance.

USDCAD Price Analysis

Expected Scenario

• The USDCAD price bounced downwards strongly, breaking below 1.3690$ followed by the bullish channel’s support line.
• Settling below this support indicates a return to correctional bearish pressure, with targets at 1.3590$ and extending to 1.3434$ upon breaking the former level.
• Consequently, a bearish bias is expected for the upcoming period, supported by the price's movement below the EMA50.

Expected Trading Range

Between 1.3540$ support and 1.3690$ resistance.

USDJPY Price Analysis

Expected Scenario

• The USDJPY price returns to fluctuate within a tight range after testing the 157.00 level in the previous sessions.
• Notably, the RSI is attempting to shed its negativity, signaling a potential positive momentum that could support a push towards resuming the bullish wave, with the next target at 157.95.
• The ongoing bullish channel continues to underpin the expected upward trend on both intraday and short-term bases, contingent upon price stability above 155.50.

Expected Trading Range

Between 156.00 support and 157.60 resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price rallied upwards in the previous sessions, confirming the breach of the 1.2700$ level and establishing a bullish wave on the intraday and short-term basis.
• This movement is supported by the positive effect of the double bottom pattern visible on the chart, with targets extending up to 1.2893$.
• Expectations point towards further rise in the upcoming sessions, backed by the EMA50. However, breaking below 1.2700$ may reverse the expected trend and lead to a decline.

Expected Trading Range

Between 1.2710$ support and 1.2870$ resistance.