Gold price keeps its stability below 1509.00, getting negative signal through stochastic, while the EMA50 forms negative pressure against the price, to support the chances of continuing the expected bearish trend for the upcoming period, which its targets begin by testing 1453.10 level, reminding you that breaking this level will extend the bearish wave to reach 1400.00 as a next target.

Therefore, we will keep our bearish overview on the intraday and short term basis, noting that breaching 1509.00 might push the price to achieve intraday gains that start at 1543.35 and might extend to 1571.20 before any new attempt to decline.

The expected trading range for today is between 1400.00 support and 1520.00 resistance.

The expected trend for today: Bearish

The USDCAD pair succeeded to achieve our waited target at 1.4262 and bounced upwards strongly from there, which leads the price to resume the main bullish trend, waiting to test the recently recorded top at 1.4667 initially, noting that breaching this level will push the price to 1.4900 as a next main station.

We should note that breaking 1.4265 will stop the expected rise and presses on the price for more bearish correction that its initial targets reach 1.4015.

The expected trading range for today is between 1.4350 support and 1.4600 resistance.

The expected trend for today: Bullish

The USDJPY pair’s recent bullish rally stopped at the bearish channel’s resistance that appears on the chart, to keep its consolidation below it, which pushes the price to decline again to achieve bearish correction that its targets begin at 109.06 and extend to 107.55 after breaking the previous level.

Therefore, the bearish trend will be suggested for the upcoming sessions, supported by the negative signal that appears on stochastic, noting that breaching 111.20 and holding above it will stop the correctional bearish scenario and leads the price to achieve more gains on the short term and medium term basis.

The expected trading range for today is between 109.00 support and 111.20 resistance

The expected trend for today: Bearish

The GBPUSD pair opens today with clear bullish bias to move above the bearish trend line that appears on the chart, which supports the chances of resuming the correctional bullish bias, waiting to test 1.1830 level initially, noting that breaching this level will push the price to 1.2093 as a next positive station.

Therefore, we suggest witnessing more rise today, supported by the positive signal provided by stochastic, noting that failing to consolidate above 1.1630 considered a negative signal that will press on the price to decline again and test 1.1410 level initially.

The expected trading range for today is between 1.1460 support and 1.1830 resistance.

The expected trend for today: Bullish