Gold price managed to confirm breaching 1644.20 level after closing the daily candlestick above it, which supports the continuation of the bullish trend scenario efficiently on the intraday and short term basis, on its way to head towards the recently recorded top at 1703.25 as a next main target.

Therefore, we are waiting for more rise in the upcoming sessions supported by the EMA50, noting that breaking 1644.20 will put the price under intraday negative pressure that targets testing 1607.70 level initially before any new attempt to rise.

The expected trading range for today is between 1645.00 support and 1690.00 resistance.

The expected trend for today: Bullish

The USDCAD pair provided negative trades yesterday to move away from 1.4264, to head towards our first waited target at 1.4015 gradually, moving inside the correctional bearish channel that appears on the chart, which supports the chances of breaking the mentioned level to open the way to visit 1.3813 as a next correctional target.

Therefore, the bearish trend scenario will remain valid on the intraday and short term basis conditioned by the price stability below 1.4264.

The expected trading range for today is between 1.4000 support and 1.4185 resistance.

The expected trend for today: Bearish

The USDJPY pair tested 109.20 level and bounced bearishly from there, to keep the bearish trend scenario valid and active on the intraday and short term basis, supported by stochastic from the overbought areas, and the price needs to break 108.50 to ease the mission of achieving our negative targets that start at 107.68 and extend to 106.44 after surpassing the previous level.

On the other hand, we should note that breaching 109.20 would stop the suggested decline and push the price to test 111.10 areas before any new attempt to resume the main bearish wave.

The expected trading range for today is between 107.70 support and 109.20 resistance

The expected trend for today: Overall Bearish

The GBPUSD pair settles below 1.2304 level, to keep the negative pressure valid for the upcoming period, and the price needs to get negative motive that supports the expectations of declining towards 1.2093 that represents our first negative target.

On the other hand, note that breaching 1.2304 will stop the suggested negative scenario and push the price to resume the correctional bullish track, which its next target located at 1.2515.

The expected trading range for today is between 1.2150 support and 1.2350 resistance.

The expected trend for today: Bearish