Gold price’s recent trades are confined within bullish pennant pattern that its signs appear on the chart, therefore, the price needs to breach 1868.50 to activate the positive effect of this pattern followed by rallying towards our positive targets that start at 1900.00 followed by 1915.00.

Therefore, our bullish overview will remain valid and active for the upcoming period, supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1860.00 – 1856.00 levels.

The expected trading range for today is between 1850.00 support and 1885.00 resistance.

The expected trend for today: Bullish

The USDCAD pair tests the support base formed above 1.2590 and keeps its stability above it until now, accompanied by stochastic getting rid of the negative momentum and reach to the oversold areas, to get positive motive that we are waiting to assist to push the price to rise again, waiting to head towards 1.2725 as a next main target.

On the other hand, we should note that breaking 1.2590 will put the price under the negative pressure again, to head towards 1.2480 initially.

The expected trading range for today is between 1.2540 support and 1.2680 resistance.

The expected trend for today: Bullish

The USDJPY pair returns to rise after leaning on the previously breached resistance that appears on the chart, reinforcing the expectations of continuing the main bullish trend, waiting to test 114.70 initially.

The EMA50 supports the suggested bullish wave, which its targets extend to 115.50 after surpassing the previous level, while holding above 113.90 represents the first condition to continue the expected rise.

The expected trading range for today is between 113.80 support and 115.00 resistance

The expected trend for today: Bullish

The GBPUSD pair keeps its stability above 1.3470 level, to keep the correctional bullish trend scenario active for the upcoming period, waiting to visit 1.3540 initially.

We should note that breaking 1.3470 will stop the expected rise and press on the price to resume the main bearish trend that its targets begin 1.3415 followed by 1.3355.

The expected trading range for today is between 1.3390 support and 1.3560 resistance.

The expected trend for today: Bullish