Silver price traded with strong negativity yesterday, as it managed to achieve our waited target at 29.63$ and broke it to close the daily candlestick below it, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that we expect to push the price to suffer more losses that start by visiting 28.40$ and extend to the previously recorded low at 26.41$.

Therefore, we suggest the continuation of the bearish bias in the upcoming period, taking into consideration that breaching 29.63$ and holding above it will stop the current negative pressure and lead the price to start recovery attempts that target testing 30.63$ areas initially.

The expected trading range for today is between 28.80$ support and 29.80$ resistance.

Trend forecast: Bearish

Gold price continued to decline to succeed achieving our second waited target at 2600.00$, and we believe that the way is open to continue the decline to achieve additional negative targets that extend to 2555.00$ followed by 2513.15$ as next negative stations, waiting for more bearish bias in the upcoming sessions.

Settling below 2655.00$ keeps the bearish trend scenario valid and active, as breaching it will lead the price to recover again and attempt to regain the main bullish trend that its targets begin by testing 2700.00$ followed by 2725.00$ areas.

The expected trading range for today is between 2585.00$ support and 2630.00$ resistance.

Trend forecast: Bearish

The USDCAD price soared yesterday, as it surpassed the first target at 1.4350$ to reach the second waited target at 1.4460$, noticing that the price surpassed the bullish channel’s resistance line to head towards achieving more expected gains on the short-term and medium-term basis, noting that the next station reaches 1.4500$ - 1.4530$ areas.

The EMA50 keeps supporting the price from below to reinforce the expectations of continuing the rise, noting that the continuation of the bullish wave requires holding above 1.4370$.

The expected trading range for today is between 1.4380$ support and 1.4510$ resistance

Trend forecast: Bullish

The USDJPY price rallied upwards to succeed achieving our waited target at 154.95, starting today with additional rise to attempt to breach this level, paving the way to achieve more expected gains in the upcoming period, to head towards testing the recently recorded high at 156.74.

Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis, noting that breaking 154.25 will stop the bullish rally and put the price under negative pressure that targets testing 152.70 areas before any new positive attempt.

The expected trading range for today is between 154.50 support and 156.00 resistance

Trend forecast: Bullish