Gold Price Analysis

Expected Scenario

• Gold price’s decline stopped at the EMA50 that formed good support against the price, accompanied by stochastic reach to the oversold areas and overlapping positively now, to start rising by today’s open, hinting heading to resume the expected bullish trend in the upcoming period, which targets 2400.00$ as a next main station.
• The continuation of the bullish trend depends on the price stability above 2340.10$, noting that breaking it will push the price to achieve new bearish correction that its next target reaches 2272.06$.

Expected Trading Range

Between 2350.00$ support and 2385.00$ resistance.

USDCAD Price Analysis

Expected Scenario

• The USDCAD price shows some slight bullish bias, affected by stochastic positivity, to approach the EMA50 that forms good resistance against the price, waiting to resume the bearish bias to break 1.3590$ and confirm extending the correctional bearish wave to target 1.3515$ followed by 1.3435$ levels as next negative stations.
• Holding below 1.3690$ is important to the continuation of the expected decline, as breaching it represents the key to return to the main bullish track again.

Expected Trading Range

Between 1.3570$ support and 1.3700$ resistance.

USDJPY Price Analysis

Expected Scenario

• The USDJPY price bounced bullishly after reaching 160.20 level, to test 161.00 barrier and settle around it, while the head and shoulders’ formation still valid until now, which might push the price to achieve more bearish correction in the upcoming sessions.
• The price needs to break 160.20 to confirm rallying towards 159.10$ as a next main target.

Expected Trading Range

Between 160.00 support and 161.60 resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price provides negative trades after touching 1.2845$ level, as it is affected by the RSI negativity, while the EMA50 continues to provide the positive support to the price, waiting to resume the bullish wave that its next target located at 1.2890$.
• Holding above 1.2800$ represents the first condition to the continuation of the expected rise, as breaking it will force the price to suffer intraday losses and test 1.2700$ before determining the next destination clearly.

Expected Trading Range

Between 1.2740$ support and 1.2890$ resistance.