Silver Price Analysis

• Silver price still confined between the key levels represented by 26.90$ support and 28.00$ resistance.
• The EMA50 negativity contradicts stochastic positivity, thus, our neutrality will remain valid until now, waiting to breach one of the mentioned levels to detect the next destination clearly.

We remind you that breaking the mentioned support will push the price to resume the correctional bearish track that its next target reaches 26.00$, while breaching the resistance represents the key to return to the main bullish track, to head towards visiting 28.80$ followed by 29.80$ levels as next positive targets.

Expected Trading Range

• Support: 26.70$
• Resistance: 27.60$

Trend forecast: Neutral

Gold Price Analysis

• Gold price bounced bearishly after testing the broken support of the bullish channel that appears on the chart.
• The price started pressing on the key support 2325.90$ and hints heading to resume the bearish correction.
• The price needs to break the mentioned support to confirm opening the way to head towards 2260.60$ as a next correctional target.

Therefore, we expect to witness negative trades in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 2360.50$ will stop the expected decline and lead the price to regain the main bullish trend again.

Expected Trading Range

• Support: 2305.00$
• Resistance: 2340.00$

Trend forecast: Bearish

Read more: Will Gold price reach 3000$ areas?

USDCAD Price Analysis

• The USDCAD price shows negative trades to settle below 1.3660$ level, falling under continuous negative pressure coming by the EMA50, while stochastic overlaps negatively now.
• Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which its next targets located at 1.3620$ followed by 1.3565$, noting that breaching 1.3760$ will push the price to resume the main bullish track again, to head towards visiting the recently recorded high at 1.3845$ as a first positive target.

The expected trading range for today is between 1.3570$ support and 1.3700$ resistance.

Trend forecast: Bearish

USDJPY Price Analysis

• The USDJPY price succeeded to achieve our waited positive targets by the end of last Friday, as it touched 157.30 level, noticing that the price begins today with sharp bullish rally to surpass the bullish channels’ resistance lines that appear on the chart and touch the psychological barrier at 160.00, to continue recording new historical levels, and the way seems open to continue the rise and achieve additional positive target in the upcoming sessions.
• Therefore, the bullish trend will remain valid and dominant on the short-term and medium term basis, and the next target reaches 160.00, noting that breaking 158.70 will stop the expected rise and push the price to achieve some bearish correction before turning back to rise again.

The expected trading range for today is between 158.50 support and 160.30 resistance

Trend forecast: Bullish