Gold price ended yesterday positively to settle above 1962.50 level, as it stopped the bearish correction and heads to resume the main bullish trend again, supported by the EMA50, waiting to visit 2000.00 followed by 2040.00 levels as next main targets.

The price moves within the symmetrical triangle again, and it needs to breach 1985.00 to get positive motive that assists to rally towards the above mentioned targets, noting that stochastic current negativity might hinder the attempts to continue the rise and cause some sideways fluctuation.

In general, the bullish bias will be expected for the upcoming period conditioned by the price stability above 1962.50, as breaking it will press on the price to return to the correctional bearish track that its targets begin by visiting 1933.20 areas.

The expected trading range for today is between 1965.00 support and 2000.00 resistance.

The expected trend for today: Bullish

The USDCAD pair broke 1.3500 level strongly to rally towards our next waited negative target at 1.3450, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, waiting to visit 1.3350 that represents our next negative target.

The EMA50 continues to support the suggested bearish wave, and breaking the last level will push the price to 1.3275 areas as a next main station, while breaching 1.3500 will lead the price to attempt to start bullish wave on the intraday basis, its targets reach 1.3650 – 1.3680 levels.

The expected trading range for today is between 1.3350 support and 1.3490 resistance.

The expected trend for today: Bearish

The USDJPY pair bounced downwards clearly after testing 133.30 level in the previous sessions, to resume the expected bearish trend on the intraday and short term basis, which targets 131.60 followed by 130.40 levels as next main stations.

The price needs to surpass the solid support base formed by the EMA50 now at 132.50 to reinforce the expectations of continuing the bearish trend followed by rallying towards the suggested targets.

The expected trading range for today is between 131.60 support and 133.30 resistance

The expected trend for today: Bearish

The GBPUSD pair continued to rise to return to the intraday bullish channel again, showing more bullish bias to approach the recently recorded high at 1.2440, and we suggest the continuation of the positive trades to surpass this level and achieve additional positive targets that reach 1.2610.

Therefore, the bullish bias will be expected for today, supported by the EMA50 that carries the price from below, waiting to get positive motive that assists to push the price to surpass the mentioned high and rally towards the expected targets, being aware that breaking 1.2345 will stop the positive scenario and press on the price to achieve some intraday bearish correction before resuming the bullish wave again.

The expected trading range for today is between 1.2350 support and 1.2500 resistance.

The expected trend for today: Bullish