Silver price provided clear negative trades yesterday to reach few pips away from our waited target at 29.63$, and we suggest resuming the negative trades today to break this level and open the way to head towards 29.00$ followed by 28.40$ levels as next negative targets.

Therefore, the bearish trend will remain valid and active for the upcoming period, noting that breaching 30.63$ will stop the bearish wave and push the price to recover and achieve positive targets that start by visiting 31.63$ areas.

The expected trading range for today is between 29.50$ support and 30.40$ resistance.

Trend forecast: Bearish

Gold price succeeded to reach the bullish channel’s support line that appears on the chart, and according to the trading rules inside the channels, the price is on its way to build bullish wave in the upcoming sessions to head towards resuming the main bullish trend again, but we prefer to stay aside now until we get clearer signal for the next trend, to monitor the price according to 2731.50$ support and 2755.00$ resistance.

Note that breaching the resistance will confirm starting the bullish wave and open the way to visit 2790.00$ as a first main station, while breaking the support represents the key to start bearish correction on the intraday and short-term basis and push the price to test 2708.50$ areas as a first correctional target.

The expected trading range for today is between 2715.00$ support and 2760.00$ resistance.

Trend forecast: Neutral

The USDCAD price continues to fluctuate at the broken support of the bullish channel, keeping its stability below it, to keep the bearish trend scenario active, which targets 1.4220$ mainly.

Stochastic shows negative signals that support the expected decline, noting that breaching 1.4420$ followed by 1.4467$ levels will stop the negative scenario and lead the price to regain the main bullish trend again.

The expected trading range for today is between 1.4330$ support and 1.4450$ resistance

Trend forecast: Bearish

The USDJPY price faced additional negative pressure yesterday to break 154.96 level and reach 153.75 direct, noticing that the price bounced bullishly by today’s open to settle above the first level, to continue with our neutrality until we get clearer signal for the next trend, through breaking 154.96 support or breaching 156.45 resistance.

Note that breaking the support will push the price to suffer new losses and target 153.75 again, while breaching the resistance will lead the price to recover and visit 157.65 followed by 158.87 levels as main positive stations.

The expected trading range for today is between 154.80 support and 156.40 resistance

Trend forecast: Neutral