Gold price continues to decline to test 2600.00$ barrier, waiting to break this level to confirm opening the way to head towards our next main target at 2555.00$.

Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 2640.00$ will stop the bearish wave and push the price to achieve new gains that start by visiting 2700.00$ areas.

The expected trading range for today is between 2585.00$ support and 2620.00$ resistance.

Trend forecast: Bearish

The USDCAD price provided clear negative trades to start pressing on the key support 1.4350$, and as we mentioned in our previous reports, the price needs to break this level to confirm extending the bearish wave and open the way to visit the main bullish channel’s support line around 1.4220$.

Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that failing to confirm breaking 1.4350$ will push the price to recover and head to test 1.4467$ areas mainly.

The expected trading range for today is between 1.4270$ support and 1.4400$ resistance

Trend forecast: Bearish

The USDJPY price traded with strong negativity after failing to breach 157.92, to break 156.70 and head towards achieving bearish correction on the intraday basis, its targets begin by testing 155.75 level, noting that breaking this level will open the way to head towards 154.40 areas on the near-term basis.

Therefore, the bearish bias will be suggested for the upcoming sessions unless breaching 157.40 followed by 157.92 levels and holding above them.

The expected trading range for today is between 155.50 support and 157.20 resistance

Trend forecast: Bearish

The GBPUSD price bounced bearishly after testing 1.2605$, to keep the negative effect of the head and shoulders’ pattern active, waiting for more decline to head towards our main expected target at 1.2400$.

Holding below 1.2605$ is important to the continuation of the expected decline, as breaching it will push the price out of the bearish track to head towards achieving gains that start by visiting 1.2735$ areas.

The expected trading range for today is between 1.2470$ support and 1.2620$ resistance

Trend forecast: Bearish