Gold price surpassed 2790.00$ level to record new historical levels, and begins to test 2800.00$ barrier now, waiting to breach this level to head towards the bullish channel’s resistance line at 2808.20$, noting that breaching this level will extend the bullish wave to reach 2850.00$ areas on the near-term basis.

Stochastic current negativity might cause temporary sideways fluctuation before resuming the bullish wave, noting that breaking 2790.00$ will put the price under negative pressure on the intraday basis and might head to visit 2756.30$ areas before any new positive attempt.

The expected trading range for today is between 2780.00$ support and 2820.00$ resistance.

Trend forecast: Bullish

The USDCAD price rallied upwards strongly yesterday, as it breached 1.4467$ and reached 1.4595$ areas, to return to the bullish channel and head towards achieving more positive targets in the upcoming period, noting that the next main station reaches 1.4700$.

Therefore, the bullish trend will be suggested for today, noting that breaking 1.4450$ will push the price to decline again and start bearish correction on the intraday basis.

The expected trading range for today is between 1.4420$ support and 1.4560$ resistance

Trend forecast: Bullish

The USDJPY price managed to achieve our waited target at 153.75 and settles there, which represents 50% Fibonacci correction level for the rise from 148.64 to 158.87, which means that breaking this level will extend the correctional bearish wave to reach 152.55 direct.

The EMA50 forms continuous negative pressure against the price to support the chances of continuing the bearish trend in the upcoming period, reminding you that the continuation of the bearish wave requires holding below 154.96.

The expected trading range for today is between 153.40 support and 154.90 resistance

Trend forecast: Bearish

The GBPUSD price returns to test the key support 1.2415$, as it found difficulty to return to the intraday bullish channel, to hint potential return to the main bearish track and stop the current bullish correction.

Now, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking 1.2415$ followed by 1.2380$ levels will push the price to decline and target 1.2240$ followed by 1.2100$ areas as main negative stations, while breaching 1.2490$ will lead the price to rally towards 1.2609$ direct.

The expected trading range for today is between 1.2340$ support and 1.2510$ resistance

Trend forecast: Neutral