Gold price begins today with more rise to touch our waited target at 2850.00$ and attempt to breach it, opening the way to achieve more gains in the upcoming period, noting that our next target reaches 2900.00$ barrier.

The minor bullish channel organizes the current bullish wave, noting that breaking 2835.00$ will stop the bullish rally to push the price to turn to decline and head to test the main bullish channel’s support line around 2785.00$ before any new attempt to rise.

The expected trading range for today is between 2835.00$ support and 2875.00$ resistance.

Trend forecast: Bullish

Read more: Gold Breaks $2,800: Time to Act Now Before 2025 Launches It Past $3,000?

The USDCAD price resumed its negative trading strongly to approach the waited target at 1.4268$, which represents 38.2% Fibonacci correction level for the rise that appears on the chart, noting that breaking it will push the price to target 1.4106$ areas as a next main station.

Holding below 1.4470$ keeps the bearish wave valid for the upcoming period, as breaching it represents the key to return to the main bullish trend again.

The expected trading range for today is between 1.4250$ support and 1.4390$ resistance

Trend forecast: Bearish

The USDJPY price trades with clear negativity by today’s open to break 153.75 and attempt to hold below it, to exit the sideways range and head towards achieving more bearish correction, targeting 152.55 as a next station, noting that breaking this level will extend the bearish wave to reach 151.05 as a next main target.

The negative pressure formed by the EMA50 supports the expected bearish trend, which will remain valid conditioned by the price stability below 153.75.

The expected trading range for today is between 152.50 support and 154.00 resistance

Trend forecast: Bearish

The GBPUSD price provided clear positive trades yesterday to move away from 1.2415$, reinforcing the expectations of continuing the correctional bullish trend, which its next target located at 1.2605$.

The EMA50 supports the suggested bullish wave, noting that breaking 1.2415$ will stop the positive scenario and push the price to attempt to return to the main bearish track again.

The expected trading range for today is between 1.2400$ support and 1.2565$ resistance

Trend forecast: Bullish