Silver price opens today’s trading with clear negativity to approach our waited target at 25.50, reinforcing the expectations of continuing the bearish trend, being aware that we need to monitor the price behavior at the mentioned level, as breaking it will extend the bearish wave and open the way to achieve additional negative targets that reach 24.70 initially.

On the other hand, we should note that the continuation of the bearish wave requires holding below 27.15.

The expected trading range for today is between 25.50 support and 26.80 resistance.

The expected trend for today: Bearish

Gold price confirmed breaking 1740.00 level and showed strong decline to reach 1707.50, confirming the return to resume the bearish trend as we mentioned in our last technical update, expecting to provide additional negative trades that target 1692.00 level as a next main station.

Therefore, the bearish bias will be expected for today supported by the negative pressure formed by the EMA50, noting that breaching 1740.00 will push the price to recover again and visit 1765.00 areas initially and might extend to 1800.00 before any new attempt to decline.

The expected trading range for today is between 1695.00 support and 1730.00 resistance.

The expected trend for today: Bearish

The USDCAD pair faced negative pressure yesterday to test 1.2655 level, but it begins today positively after leaning on the EMA50, noticing that stochastic provides positive overlapping signal now, waiting to motivate the price to provide more positive trades in the upcoming sessions, as our next target is located at 1.2795.

Therefore, the bullish trend scenario will remain valid on the intraday basis unless breaking 1.2640 and holding below it.

The expected trading range for today is between 1.2600 support and 1.2750 resistance.

The expected trend for today: Bullish

The USDJPY pair shows new positive trades to approach our first waited target at 107.00, getting continuous positive support by the EMA50, to keep the bullish overview valid, which its next main target located at 107.65.

Holding above 106.44 is important to achieve the suggested targets, as breaking it will press on the price to turn to decline and head towards 105.20 areas on the near-term basis.

The expected trading range for today is between 106.20 support and 107.60 resistance

The expected trend for today: Bullish