Gold price settles below the main bullish trend line that turns into a critical rsistance now at 1510.00, which meets the EMA50 to strengthen it, while stochastic provides positive signals that pushes the price to attempt to breach the mentioned resistance then regain the main bullish trend.

Therefore, this contradiction between the technical factors makes us stay aside temporarily, waiting for breaching 1510.00 resistnace or breaking 1485.00 support to detect the next trend clearly, pointing that breaching this resistance will push the price to resume the bullish trend that its next main target at 1555.00, while breaking the support will complete forming a negative pattern that has negative targets that begin at 1447.00 and extend to 1413.10.

The expected trading range for today is between 1490.00 support and 1530.00 resistance.

The expected trend for today: Bullish

The USDCAD pair provided positive trades yesterday and approach 1.3286 level, but it shows bearish bias now, on its way to test the key support 1.3240.

As we mentioned in our recent reports, holding above the mentioned support keeps the bullish trend scenario valid for the upcoming period, as breaking it will press on the price to visit 1.3200 followed by 1.3155 levels as main negative stations, while breaching 1.3286 is required to reinforce the chances of continuing the bullish wave that its next main target located at 1.3400.

The expected trading range for today is between 1.3200 support and 1.3340 resistance.

The expected trend for today: Bullish

The USDJPY pair traded positively yesterday to attempt to breach the key resistance 107.70, while it begins today with bearish bias to move below this level, which keeps the bearish trend scenario suggested for today, especially that stochastic shows negative signals on the four hours’ time frame, waiting to target 107.20 followed by 106.70 levels as next main stations.

We should note that breaching 107.70 and holding above it will stop the expected decline and push the price to achieve more gains on the intraday and short term basis.

The expected trading range for today is between 106.70 support and 108.20 resistance

The expected trend for today: Bearish

The GBPUSD pair broke the neckline of the head and shoulders’ pattern strongly, to rally bearishly and approach our main waited target at 1.2295, reinforcing the expectations of continuing the bearish trend in the upcoming sessions.

Therefore, we are waiting for more decline today, supported by moving below the EMA50, noting that the continuation of the bearish trend depends on the price stability below 1.2415 and the most important below 1.2500.

The expected trading range for today is between 1.2270 support and 1.2450 resistance.

The expected trend for today: Bearish