Gold price showed mixed trades yesterday, and close the daily candlestick below the bearish channel’s resistance, to start today with strong decline and break the symmetrical triangle’s support line and settles below it, which keeps the main bearish trend scenario valid and active for the upcoming period, waiting to head towards 1644.00 followed by 1630.00 levels as next negative targets.

The EMA50 continues to support the suggested bearish wave, reminding you that it is important to hold below 1680.00 to continue the expected decline.

The expected trading range for today is between 1635.00 support and 1675.00 resistance.

The expected trend for today: Bearish

The USDCAD pair soared sharply yesterday to surpass 1.3390 level, and opens today with more rise to achieve our extended target at 1.3490, noticing that the price keeps providing the positive trades to surpass this level and open the way to achieve more expected gains, to head towards visiting 1.3650 areas as a next main station.

Therefore, we expect the continuation of the bullish trend domination in the upcoming period, noting that breaking 1.3460 might press on the price to achieve some temporary bearish correction before resuming the bullish wave again.

The expected trading range for today is between 1.3460 support and 1.3610 resistance.

The expected trend for today: Bullish

The USDJPY pair rallied upwards by today’s open to succeed achieving our first main waited target 145.00, and we suggest the continuation of the bullish trend domination for the upcoming period to head towards achieving more gains on the longer term basis, noting that the next targets reach 146.00 followed by 146.90 levels.

Therefore, we are waiting for more rise today, noting that the continuation of the bullish wave requires holding above 143.55.

The expected trading range for today is between 144.00 support and 145.80 resistance

The expected trend for today: Bullish

The GBPUSD pair provided clear negative trades yesterday to surpass 1.1300 level and confirms the return to the main bearish channel, and succeeded to touch our extended target at 1.1220 by today’s open, to head towards achieving more expected decline in the upcoming period, paving the way to head towards 1.1100 as a next main target.

Therefore, the bearish trend scenario will remain suggested on the intraday and short term basis unless breaching 1.1295 and holding above it, noting that the pair might witness high volatility today at the time of releasing the rate decision by the BOE, as the expectations show rate hike to 2.25%, which might push the price to attempt to recover.

The expected trading range for today is between 1.1140 support and 1.1320 resistance.

The expected trend for today: Bearish