Gold Price Analysis

Expected Scenario

• Gold price provided negative trades yesterday to test 2300.00$ barrier, waiting for more decline to visit 38.2% Fibonacci correction level at 2272.06$, which represents the next main target of the current bearish wave, reminding you that breaking this level will extend the bearish wave to reach 2217.10$ as a next negative station.
• On the other hand, we should note that breaching 2340.10$ will stop the expected bearish trend and lead the price to return to the main bullish trend again, to head towards achieving gains that start at 2386.60$ and extend to 2416.30$ as initial positive targets.

Expected Trading Range

Between 2280.00$ support and 2320.00$ resistance.

USDCAD Price Analysis

Expected Scenario

• The USDCAD price settles above the main bullish channel’s support line, getting continuous positive support by the EMA50, to continue suggesting the bullish trend on the intraday and short-term basis, reminding you that our next target reaches 1.3845$.
• Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, reminding you that it is important to hold above 1.3690$ to achieve the suggested targets.

Expected Trading Range

Between 1.3680$ support and 1.3810$ resistance.

USDJPY Price Analysis

Expected Scenario

• The USDJPY price finds good resistance around 157.40 level, which forces the price to provide sideways trades near this level, waiting to breach this resistance to ease the mission of continuing the rise and head to achieve our positive targets that start at 158.40 and extend to 160.20.
• Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50, noting that breaking 156.75 will put the price under intraday negative pressure to target visiting the key support 155.50 before any new positive attempt.

Expected Trading Range

Between 156.50 support and 158.00 resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price hovers around the EMA50 since yesterday, noticing that the RSI attempts to gather the positive momentum, waiting to get positive motive that assist to push the price to resume the main expected bullish trend for the upcoming period, which its next target reaches 1.2893$.
• Holding above 1.2700$ is important to the continuation of the expected rise, as breaking it will push the price to turn to decline and build bearish wave that targets 1.2580$ areas on the near-term basis.

Expected Trading Range

Between 1.2700$ support and 1.2845$ resistance.