Gold price managed to achieve our second target at 1625.00 and attempts to surpass it now, to support the chances of achieving more rise on the short term basis, as the price moves inside bullish channels that appear on the chart, noting that our next target reaches 1668.00.

Therefore, the bullish trend scenario will remain suggested in the upcoming sessions, supported by the EMA50, taking into consideration that breaking 1611.20 will press on the price to decline and test the bullish channel’s support line at 1577.00 before any new attempt to rise.

The expected trading range for today is between 1615.00 support and 1650.00 resistance.

The expected trend for today: Bullish

The USDCAD pair achieved slight gains yesterday to test the correctional bearish trend resistance line, starting today with bearish bias to hint heading to resume the bearish trend, noticing that stochastic provides negative overlapping signal that supports the chances of achieving more decline today.

Therefore, the bearish trend scenario will remain valid and active in the upcoming sessions unless breaching 1.3285 and holding above it, reminding you that our targets begin at 1.387 and extend to 1.3100 after surpassing the previous level.

The expected trading range for today is between 1.3170 support and 1.3300 resistance.

The expected trend for today: Bearish

The USDJPY pair keeps rallying bullishly to breach 111.50 and settles around 112.00 barrier, which supports the expectations of achieving more gains on the intraday and short term basis, and the way is open to visit the bullish channel’s resistance that appears on the chart.

Therefore, we will continue to suggest the bullish trend for the upcoming period, taking into consideration that the continuation of the expected rise conditions holding above 111.30.

The expected trading range for today is between 111.50 support and 112.70 resistance

The expected trend for today: Bullish

The GBPUSD pair provided negative trades yesterday to move away from 1.2920 level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, noticing that stochastic loses its positive momentum clearly, to support the chances of achieving more decline on the intraday basis.

Our next target is located at 1.2736, which represents 50% Fibonacci correction level, reminding you that the continuation of the bearish wave depends on the price stability below 1.2920.

The expected trading range for today is between 1.2800 support and 1.2970 resistance.

The expected trend for today: Bearish