Gold price shows some slight bearish bias, affected by stochastic negativity that appears clearly on the four hours’ time frame, waiting to gather enough positive momentum to push the price to continue the expected bullish trend for the upcoming period, which targets 1765.00 as a next station.

The EMA50 continues to support the price from below, to keep our bullish overview conditioned by the price stability above 1723.00 and the most important above 1706.00.

The expected trading range for today is between 1720.00 support and 1760.00 resistance.

The expected trend for today: Bullish

The USDCAD pair shows positive trades to reach the thresholds of 1.2600 barrier, reinforcing the expectations of continuing the bullish trend, which its main target located at the resistance line that declines now to 1.2680.

Therefore, we suggest the continuation of the domination of the intraday bullish trend unless breaking 1.2525 level and holding below it.

The expected trading range for today is between 1.2525 support and 1.2650 resistance.

The expected trend for today: Bullish

The USDJPY pair broke the bullish channel’s support line clearly and settled below it, which puts the price under expected negative pressure in the upcoming sessions, targeting testing 109.22 level initially, noting that breaking this level will extend the bearish wave to reach 108.40 as a next station.

Therefore, the bearish bias will be expected for today unless the price managed to breach 110.15 level and hold above it.

The expected trading range for today is between 109.00 support and 110.15 resistance

The expected trend for today: Bearish

The GBPUSD pair ended yesterday below the main bullish channel’s support line, to retest the breached resistance of the minor bearish channel that appears on the chart, noticing that stochastic provides positive signals that might assist to push the price to recover again.

Now, we need to monitor 1.3790 support and 1.3880 resistance to detect the next destination clearly, noting that breaching the mentioned resistance will reactivate the main positive scenario that its next target located at 1.4000, while breaking the support represents negative factor that will press on the price to achieve negative targets that start at 1.3705 and extend to 1.3580.

The expected trading range for today is between 1.3740 support and 1.3920 resistance.

The expected trend for today: Depends on the above mentioned levels