Gold price faced negative pressure to test the key support 1599.10 again, accompanied by stochastic getting rid of the negative momentum and approaching the oversold areas, waiting to get enough positive motive to push the price to resume the main bullish trend, which its targets begin by surpassing 1633.60 to open the way to head towards 1689.30 as a next station.

Therefore, the bullish trend scenario will remain valid for the upcoming period, noting that breaking 1599.10 will press on the price to test the most important support to the short term trading at 1571.20 before any new attempt to rise.

The expected trading range for today is between 1585.00 support and 1635.00 resistance.

The expected trend for today: Bullish

The USDCAD pair succeeded to achieve our first waited target at 1.4264 and broke it to close the daily candlestick below it, which support the chances of extending the bearish wave on the intraday and short term basis, on its way to head towards 1.4015 that represents the next correctional target.

Therefore, the bearish bias will remain expected for the upcoming period, noting that breaching 1.4264 is considered as the first positive key to get rid of the current negative pressure and return to the main bullish track.

The expected trading range for today is between 1.4130 support and 1.4330 resistance.

The expected trend for today: Bearish

The USDJPY pair settles below the bearish channel’s resistance, starting today with clear decline to move away from this resistance, which keeps the bearish trend scenario valid and active for the upcoming sessions, supported by stochastic negativity, waiting to test 109.06 level initially.

On the other hand, we should note that breaching 111.25 and holding above it will stop the negative scenario and leads the price to turn to rise.

The expected trading range for today is between 109.50 support and 111.40 resistance

The expected trend for today: Bearish

The GBPUSD pair ended yesterday above 1.1830 level, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the price needs to surpass the resistance barrier formed at 1.1960 to ease the mission of achieving the waited positive targets, which start at 1.2093 and extend further to 1.2305 after surpassing the previous level.

Therefore, we will continue to suggest the bullish trend unless we witnessed clear break and hold below 1.1830.

The expected trading range for today is between 1.1750 support and 1.2000 resistance.

The expected trend for today: Bullish