Gold price declined strongly yesterday to succeed reaching few pips away from our waited target at 1913.15, noticing that the price rebounds upwards clearly from there, to head towards building bullish wave that we expect to target testing 1929.00 initially, noting that breaching this level will push the price to 1945.20 as a next main target.

Therefore, the bullish bias will be expected for today, supported by stochastic current positivity, taking into consideration that breaking 1913.15 will stop the suggested rise and push the price to suffer more losses on the intraday basis.

The expected trading range for today is between 1910.00 support and 1940.00 resistance.

The expected trend for today: Bullish

The USDCAD pair couldn’t manage to hold for long time above 1.3500 level, to face negative pressure and retest the breached neckline of the double bottom pattern that appears on the chart, waiting to resume the positive trades to surpass the mentioned level and open the way to head towards 1.3585 as a next positive target.

Stochastic gathers the positive momentum clearly to support the expectations to rise in the upcoming sessions, taking into consideration that breaking 1.3460 will put the price under additional negative pressure to head towards 1.3350 areas on the near term basis.

The expected trading range for today is between 1.3420 support and 1.3550 resistance.

The expected trend for today: Bullish

The USDJPY pair faced negative pressure yesterday to attack the bullish channel’s support line that appears on the chart, we notice that the EMA50 forms good support against the price to protect the pair from suffering more losses, while stochastic overlaps positively now, which supports the chances of the return to resume the main bullish trend, which targets 149.00 as a next main station.

Therefore, we expect to witness positive trades in the upcoming sessions, and the price needs to surpass 148.15 to ease the mission of achieving the suggested target, noting that breaking 147.50 will stop the positive scenario and push the price to turn to decline.

The expected trading range for today is between 147.50 support and 149.00 resistance

The expected trend for today: Bullish

The GBPUSD pair traded with clear negativity yesterday to touch our first waited extended target at 1.2255, and returned to test the resistance line formed at 1.2310 after breaking it previously, noticing that stochastic loses its positive momentum clearly, waiting to assist to push the price to resume the main bearish trend, which its next target reaches 1.2200.

Therefore, we will continue to suggest the bearish trend for upcoming period conditioned by the price stability below 1.2310, noting that the EMA50 keeps supporting the bearish wave inside the bearish channel that appears on the chart.

The expected trading range for today is between 1.2190 support and 1.2350 resistance.

The expected trend for today: Bearish