Gold prices ended yesterday below 1913.15 level to confirm breaking this level and open the way to continue the decline on the intraday and short term basis, organized inside the bearish channel that appears on the chart, waiting to visit 1873.50 that represents the next negative station.

The EMA50 continues to support the suggested bearish wave, noting that breaching 1913.15 will lead the price to recover and test 1929.00 level before turning back to decline again.

The expected trading range for today is between 1895.00 support and 1915.00 resistance.

The expected trend for today: Bearish

The USDCAD pair breached 1.3205 level clearly and closed the daily candlestick above it, to head towards achieving expected gains in the upcoming sessions, targeting visiting 1.3350 as a next main station.

Therefore, the bullish bias will be expected for today, and breaching the targeted level will extend the pair’s gains to reach 1.3500, noting that breaking 1.3205 will stop the suggested rise and push the price to decline again.

The expected trading range for today is between 1.3210 support and 1.3350 resistance.

The expected trend for today: Bullish

The USDJPY pair keeps rising to touch the main bullish channel’s resistance, and we expect the continuation of the bullish wave to achieve additional gains that reach 144.90 – 145.00 areas.

Therefore, the bullish trend will remain valid in the upcoming sessions, supported by the EMA50 that keeps carrying the price from below, noting that breaking 143.65 will stop the expected rise and push the price to achieve some intraday bearish correction before turning back to rise again.

The expected trading range for today is between 143.70 support and 145.20 resistance

The expected trend for today: Bullish

The GBPUSD pair faced strong negative pressure yesterday to confirm breaking 1.2675 level and starting bearish correction for the rise that started from 1.2309 areas, as it surpassed 38.2% Fibonacci correction level to head towards achieving more negative targets that reach 1.2515.

On the other hand, we notice that the price completed forming double top pattern that supports the expectations to decline on the intraday basis, making the bearish bias suggested in the upcoming sessions unless the price rallied to breach 1.2680 followed by 1.2720 levels and holding above them.

The expected trading range for today is between 1.2530 support and 1.2690 resistance.

The expected trend for today: Bearish