Gold price confirmed breaching 1599.10 level after closing the daily candlestick above it, to support the expectations of continuing the bullish trend, waiting to test 1633.60 as a next positive station, reminding you that breaching this level will extend the bullish wave to reach 1689.30 areas on the near term basis.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions supported by the EMA50, reminding you that the continuation of the bullish wave conditions holding above 1571.20.

The expected trading range for today is between 1590.00 support and 1650.00 resistance.

The expected trend for today: Bullish

The USDCAD pair tested 1.4264 again and bounced bearishly from there, to keep its stability below this level, noticing that the price moves inside the correctional bearish channel that appears on the chart, to keep the bearish trend scenario active for the upcoming period, which targets 1.4015 level initially.

We remind you that breaking the mentioned level will extend the bearish wave to reach 1.3813, while breaching 1.4264 represents positive factor that will stop the current bearish correction and push the price back to the main bullish track.

The expected trading range for today is between 1.4000 support and 1.4250 resistance.

The expected trend for today: Bearish

The USDJPY pair’s decline stopped at 106.90 barrier yesterday, to rebound bullishly and settles above 107.68 again, affected by stochastic positivity, but we notice that the EMA50 continues to press negatively on the price, to keep the chances valid to resume the correctional bearish trend, waiting to visit 106.44 as a next station.

On the other hand, we should note that failing to trade below 107.68 again and breaching 108.50 will push the price to achieve more intraday gains and test 109.20 level before any new negative attempt.

The expected trading range for today is between 106.70 support and 109.20 resistance

The expected trend for today: Overall Bearish

The GBPUSD pair keeps fluctuating within the sideways track that appears on the chart, and the price still stuck between 1.2304 support and 1.2515 resistance, keeping its stability above the mentioned support, noticing that stochastic begins to provide positive signals now, while the EMA50 keeps supporting the price positively.

Therefore, we will continue to suggest the bullish trend conditioned by the price stability above the mentioned support, reminding you that our targets begin at 1.2515 and extend to 1.2777 after surpassing the previous level.

The expected trading range for today is between 1.2250 support and 1.2550 resistance.

The expected trend for today: Bullish