Gold price completed forming the head and shoulders’ pattern that its signs appear on the chart after closing the daily candlestick below the broken neckline, retesting this level now, while stochastic loses its positive momentum gradually.

Therefore, these factors support the chances of achieving more decline in the upcoming sessions, which targets 1907.00 – 1901.80 levels mainly, noting that breaching 1929.50 followed by 1934.86 levels will stop the suggested decline and leads the price to resume the main bullish trend again.

The expected trading range for today is between 1905.00 support and 1950.00 resistance.

The expected trend for today: Bearish

The USDCAD pair bounced bearishly after testing the intraday bullish channel’s resistance, falling under continuous negative pressure coming by the EMA50, which supports the chances of achieving more expected decline in the upcoming sessions, waiting to visit 1.3112 followed by 1.3045 levels as next main stations.

On the other hand, we should note that the continuation of the bearish wave conditions holding below 1.3245.

The expected trading range for today is between 1.3090 support and 1.3250 resistance.

The expected trend for today: Bearish

The USDJPY pair traded with clear positivity yesterday to attack 106.44 and attempts to hold above it, but we notice that the price closed the daily candlestick below this level, moving below the resistance line that appears on the chart, accompanied by witnessing clear negative signals through stochastic.

Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, noting that the next main target is located at 105.20, while breaching 106.55 represents the key to stop the negative scenario and turn to rise on the intraday basis to head towards 107.68 as a next positive target.

The expected trading range for today is between 105.60 support and 107.00 resistance

The expected trend for today: Bearish

The GBPUSD pair provided clear positive trades yesterday and attacked 1.3145, but it begins today with bearish bias that hints the price head to resume the intraday negative scenario, supported by stochastic loss to the positive momentum and reaching the overbought areas, waiting to head towards 1.3015 as a next main target.

On the other hand, we should note that confirming breaching 1.3145 will stop the suggested decline and leads the price to resume the main bullish trend again.

The expected trading range for today is between 1.3015 support and 1.3200 resistance.

The expected trend for today: Bearish