Gold price resumes the bullish track after consolidating above the bullish channel’s support line, settling above the EMA50 now, and it needs to get enough positive momentum to continue the rise and surpass 1928.60 to ease the mission of heading towards the next positive target at 1950.00.

Therefore, the bullish trend is expected for the upcoming period, organized inside the bullish channel that has positive targets that surpass the above mentioned level, noting that breaking 1912.80 will stop the suggested rise and press on the price to turn to decline.

The expected trading range for today is between 1915.00 support and 1950.00 resistance.

The expected trend for today: Bullish

The USDCAD pair bounced downwards strongly after approaching our waited positive target at 1.3500, to break 1.3350 and settles below it again, which puts the price under the negative pressure and head to achieve negative targets that reach 1.3205.

Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that the continuation of the bearish wave requires holding below 1.3350 – 1.3370 levels.

The expected trading range for today is between 1.3225 support and 1.3370 resistance.

The expected trend for today: Bearish

The USDJPY pair hovers around the EMA50 since yesterday, waiting to get negative motive that assists to push the price to resume the expected bearish wave for the upcoming period, which its targets begin by testing 128.90 level.

Therefore, the negative scenario will remain valid and active unless breaching 130.50 and holding above it.

The expected trading range for today is between 129.20 support and 130.90 resistance

The expected trend for today: Bearish

The GBPUSD pair shows weak trades after breaking 1.2320 level, as its still below it, while stochastic provides positive signals that might assist to push the price back to the bullish track again, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.

Note that breaking 1.2285 will push the price to achieve more decline and head towards 1.2155 followed by 1.1940 levels as next negative targets, while breaching 1.2320 represents the key to return to the bullish trend and head to visit 1.2440 initially.

The expected trading range for today is between 1.2210 support and 1.2410 resistance.

The expected trend for today: Neutral