Gold Price Analysis

Consolidation Around Key Level

Gold price settles around the 2190.00$ level after a recent rise.

The price has temporarily lost its positive momentum, pausing the bullish wave.

Resumption of Bullish Trend

Positive momentum is awaited to push the price to resume the rise.

First target is set at 2222.86$.

Supporting Factors

The EMA50 continues to support the price from below.

Breaking 2166.50$ will halt the rise, leading to potential bearish correction targeting 2131.70$.

Trading Range

Expected trading range for today: 2175.00$ support - 2210.00$ resistance.

Trend forecast: Bullish

USDCAD Price Analysis

Bullish Scenario

• The USDCAD price tested 1.3606$ level again and bounced bearishly from there.
• Found solid resistance hindering the mission to rise.
• The price returns to lean on the EMA50 that provide new positive signals.
• Waiting to confirm breaching the mentioned level to rally towards our next positive target at 1.3700$.

Positive Momentum

We continue to suggest the bullish trend for the upcoming period.

Supported by stochastic that gets rid of its negative momentum clearly.

Important to hold above 1.3555$ as a first condition to the continuation of the expected rise.

Trading Range

The expected trading range for today is between 1.3530$ support and 1.3660$ resistance.

Trend forecast: Bullish

USDJPY Price Analysis

Bullish Scenario

• The USDJPY price bounced downwards clearly after attempting to breach 151.81 level yesterday.
• Tested the key support 151.10.
• Noticing that the price attempts to recover by today’s open.
• Keep our bullish overview on the intraday basis, waiting to breach the mentioned resistance.
• Open the way to rally towards 153.00 as a next main target.

Bullish Wave Support

The EMA50 continues to support the suggested bullish wave.

Breaking 151.10 will push the price to achieve bearish correction that targets testing 150.55 initially.

Trading Range

The expected trading range for today is between 150.70 support and 152.20 resistance.

Trend forecast: Bullish

GBPUSD Price Analysis

Bearish Scenario

• The GBPUSD price opens today’s trading with calm decline.
• Hinting heading to resume the correctional bearish trend for the upcoming period.
• Gradually approaches our first waited target at 1.2580$.
• Breaking this level will push the price towards 1.2480$ as a next target.
• The bearish trend depends on the completion of the double top pattern.
• Supported by the negative pressure formed by the EMA50.
• Continuation of the bearish wave conditions by the price stability below 1.2700$.

Trading Range

The expected trading range for today is between 1.2530$ support and 1.2690$ resistance.

Trend forecast: Bearish