Gold price ended yesterday below 1797.00, to hint the return of the domination of the negative pressure on the intraday basis, but its still within the intraday bullish channel that appears on the chart, which keeps the chances valid to attempt to recover.

Therefore, this contradiction between the technical factors makes us prefer staying neutral until we get clearer signal for the next trend, noting that breaking 1783.00 will press on the price to achieve more decline and visit 1770.00 initially, while breaching 1797.00 will lead the price to resume the bullish wave that its next main target located at 1825.15.

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

The expected trend for today: Neutral

The USDCAD pair settles above 1.2365 level, and the inverted head and shoulders’ pattern is completed, waiting to breach the neckline at 1.2400 to activate the positive effect of this pattern followed by rallying bullishly to visit 1.2475 that represents our main target.

In general, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.2365.

The expected trading range for today is between 1.2320 support and 1.2460 resistance.

The expected trend for today: Bullish

The USDJPY pair provided positive trades yesterday and attempted to move away from the bullish channel’s support line, but it needs to get positive momentum that assist to push trades to achieve more gains, as the bullish trend still valid on the intraday and short term basis, supported by the EMA50 that carries the price from below, waiting to test 114.70 as a first station.

Note that breaking 113.95 might press on the price to decline and test 113.40 level before any new attempt to rise.

The expected trading range for today is between 113.60 support and 114.70 resistance

The expected trend for today: Bullish

The GBPUSD pair attempted to breach 1.3795 but it couldn’t manage to hold for long time above it, to fluctuate at the bullish channel’s support line again, noticing that stochastic provides new positive signals now, waiting to motivate the price to resume the main bullish trend, which its next target located at 1.3910.

The EMA50 continues to protect the suggested bullish wave, which will remain valid unless breaking 1.3720 and holding below it.

The expected trading range for today is between 1.3700 support and 1.3860 resistance.

The expected trend for today: Bullish