Gold price kept its stability above the intraday bullish channel’s support line, starting today with new positivity to move away from this support, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to achieve our waited target at 1950.00.

The EMA50 continues to provide the positive support to the suggested bullish wave, which will remain valid conditioned by the price stability above 1925.00.

The expected trading range for today is between 1920.00 support and 1955.00 resistance.

The expected trend for today: Bullish

The USDCAD pair attempted to rise yesterday but it stopped at the EMA50 that formed solid resistance against the price, to decline again and press on 1.3350 level, waiting to break this level to confirm the continuation of the bearish trend domination and head towards our next target at 1.3205.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.3420.

The expected trading range for today is between 1.3270 support and 1.3420 resistance.

The expected trend for today: Bearish

The USDJPY pair provided new positive trades to breach the resistance line that appears on the chart and settles above it, to hint the continuation of the recovery attempts and head to rise, but we notice that stochastic shows clear negative signals to press on the price to trade negatively.

Therefore, the contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend through monitor the price behavior according to 130.00 level, noting that consolidating today above this level will lead the price to achieve new gains that start at 131.50 and extend to 133.30, while breaking it and holding below it will press on the price to resume the bearish trend that its targets begin at 128.90 followed by 127.85.

The expected trading range for today is between 129.20 support and 131.30 resistance

The expected trend for today: Neutral

The GBPUSD pair tested the intraday bullish channel’s support line and keeps its stability above it, accompanied by witnessing positive signals through stochastic that we are waiting to motivate the price to resume the main bullish trend, which its targets begin by breaching 1.2440 to open the way to head towards 1.2590.

The EMA50 continues to support the suggested bullish wave, noting that breaking 1.2320 will put the price under correctional bearish pressure before turning back to rise.

The expected trading range for today is between 1.2320 support and 1.2480 resistance.

The expected trend for today: Bullish