Gold price settles below 1913.15 level, and the negative effect of the head and shoulders’ pattern still active, waiting to resume the bearish wave that targets 1890.00 followed by 1873.50 levels as next main stations.

The negative pressure formed by the EMA50 supports the expected decline, noting that breaching 1913.15 followed by 1917.00 will stop the bearish wave and push the price to attempt to build bullish wave on the intraday basis.

The expected trading range for today is between 1890.00 support and 1920.00 resistance.

The expected trend for today: Bearish

The USDCAD pair shows negative trades to gradually crawl towards the key support 1.3500, noticing that the recent trades are confined within falling wedge that appears on the chart, thus, breaching 1.3565 will activate the positive effect of this pattern and push the price to resume the expected bullish trend on the intraday basis, which its next main targets located at 1.3610 followed by 1.3680.

Stochastic provides positive signals that we are waiting to assist to push the price to rise in the upcoming sessions, noting that the continuation of the bullish wave requires holding above 1.3500.

The expected trading range for today is between 1.3490 support and 1.3640 resistance.

The expected trend for today: Bullish

The USDJPY pair continued to rise yesterday to approach the recently recorded high at 147.86, noticing that the price was affected by stochastic negativity to show some bearish bias, approaching the bullish channel’s support line, noticing that the indicator gets rid of its negative momentum clearly to approach the oversold areas, which supports the chances of bouncing bullishly and resume the bullish trend again.

Therefore, the bullish trend scenario will remain valid and active unless breaking 146.35 level, reminding you that our next main target reaches 149.00.

The expected trading range for today is between 146.50 support and 148.00 resistance

The expected trend for today: Bullish

The GBPUSD pair approached 1.2400 barrier and bounced bullishly to settle around 1.2505 again, keeping its consolidation below it, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish trend that targets 1.2400 followed by 1.2310 level as next main stations.

Therefore, we will continue to suggest the bearish trend on the intraday and short-term basis, noting that breaching 1.2505 will push the price to recover and achieve gains that reach 1.2625 before any new attempt to decline.

The expected trading range for today is between 1.2400 support and 1.2550 resistance.

The expected trend for today: Bearish