Gold price provided clear positive trades yesterday to test the key resistance 1660.00 again, and by taking a deeper look at the chart, we find that the price forms inverted head and shoulders’ pattern that its confirmation line located at 1661.20, which means that breaching this level will lead the price to achieve new gains that start at 1686.40 and extend to 1708.50.

Therefore, the bullish bias will be suggested for today, and breaching the mentioned neckline is a major condition to achieve the expected rise, taking into consideration that breaking 1645.00 will cancel the positive formation and press on the price to resume the bearish trend again.

The expected trading range for today is between 1640.00 support and 1675.00 resistance.

The expected trend for today: Bullish

The USDCAD pair faced strong negative pressure yesterday to break 1.3680 and settles below it, which pushes the price to achieve new bearish correction in the upcoming sessions, targeting visiting 1.3500 as a next negative station.

Therefore, we expect to witness more decline today, supported by the EMA50, noting that breaching 1.3680 will stop the negative scenario and lead the price to resume the main bullish trend again.

The expected trading range for today is between 1.3520 support and 1.3670 resistance.

The expected trend for today: Bearish

The USDJPY pair broke the bullish channel’s support line clearly and settled below it, to fall under the bearish correction again, and we expect to test 147.17 level initially, noting that breaking it will push the price to achieve additional bearish correction that its next target reaches 144.20 areas.

Therefore, the bearish bias will be expected for today, noting that breaching 148.80 will push the price to rise again and regain the main bullish trend.

The expected trading range for today is between 147.40 support and 149.00 resistance

The expected trend for today: Bearish

The GBPUSD pair traded with strong positivity yesterday to return to the bullish channel that appears on the chart, to head towards achieving expected additional gains in the upcoming sessions, targeting visiting 1.1580 level mainly.

Therefore, we expect to witness more bullish bias in the upcoming sessions, noting that breaking 1.1440 and holding above it will stop the positive scenario and push the price to decline again.

The expected trading range for today is between 1.1370 support and 1.1550 resistance.

The expected trend for today: Bullish