Gold price shows some bullish bias after touching the main waited target at 1860.90, which shows the strength and importance of this level, heading to retest the previously broken horizontal support line that turns into resistance now at 1882.40, being aware that we need to monitor the price at this level, as it needs to consolidate below it to keep the negative scenario valid for the upcoming period.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, which its targets begin by breaking 1860.90 to open the way to head towards 1794.85 as a next main target, noting that breaching 1882.40 will stop the expected decline and push the price to test 1901.80 level initially before any new attempt to decline.

The expected trading range for today is between 1850.00 support and 1890.00 resistance.

The expected trend for today: Bearish

The USDCAD pair managed to touch our waited target at 1.3362, facing solid resistance there to rebound bearishly and heads towards potential test to the support base formed at 1.3240 after breaching it previously, noticing that stochastic got rid of its negativity to approach the oversold areas, which supports the chances of bouncing bullishly to resume the expected bullish trend for the upcoming period.

Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that breaching 1.3362 is required to confirm extending the bullish wave towards 1.3500 followed by 1.3612, while breaking 1.3240 represents negative factor that will press on the price to return to the main bearish track again.

The expected trading range for today is between 1.3240 support and 1.3390 resistance.

The expected trend for today: Bullish

The USDJPY pair attempted to breach the intraday bearish channel’s resistance that appears on the chart, but we notice that the EMA50 forms solid resistance barrier against the positive attempts, to push the price to decline again, motivated by the negativity that appears clearly on stochastic.

Therefore, we will keep our bearish overview for the upcoming period, which depends on the price stability below 105.20, reminding you that our next main target is located at 103.65.

The expected trading range for today is between 103.60 support and 105.00 resistance

The expected trend for today: Bearish

The GBPUSD pair broke 1.2970 level strongly and settled below it, which puts the price under expected negative pressure in the upcoming sessions, on its way to achieve negative targets that start at 1.2845 and extend to 1.2705.

Moving below the EMA50 supports the expected decline, while breaching 1.3000 represents the key to stop the current negative pressure and head to resume the main bullish trend again.

The expected trading range for today is between 1.2845 support and 1.3000 resistance.

The expected trend for today: Bearish