Silver price settles below 23.00 level after the positive attempts that it witnessed yesterday, to keep the bearish trend scenario valid and active for the upcoming period, affected by the previously completed head and shoulders’ pattern, reminding you that the waited target reaches 22.25.

Stochastic begins to lose the positive momentum to support the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 23.00.

The expected trading range for today is between 22.50 support and 23.20 resistance.

The expected trend for today: Bearish

Gold price approached 2016.90 level and shows some slight bullish bias by today’s open, affected by stochastic positivity, and continues to move inside the minor bearish channel that appears on the chart, waiting to resume the bearish wave that needs breaking the mentioned level to open the way to head towards the next correctional target at 1977.46.

Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, noting that breaching 2044.85 will push the price to achieve intraday gains and test the most important resistance at 2065.70 before any new attempt to decline.

The expected trading range for today is between 2010.00 support and 2040.00 resistance.

The expected trend for today: Bearish

The USDCAD pair shows some bearish bias by today’s open to test the key support 1.3350, and as long as the price is above this level, our bullish overview will remain valid, which targets 1.3500 areas mainly.

The EMA50 supports the expected bullish trend, while breaking 1.3350 represents the key to turn to decline and build bearish wave that targets visiting 1.3285 levels initially.

The expected trading range for today is between 1.3310 support and 1.3440 resistance.

The expected trend for today: Bullish

The USDJPY pair managed to reach few pips away from our waited positive target at 145.90, and starts to provide bearish rebound signals that might push the price to build bearish wave on the intraday basis, affected by stochastic negativity, but it gets positive support by the EMA50 that might assist to achieve new gains in the upcoming period.

Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that continuing the decline and breaking 144.85 will push the price to achieve negative targets that start at 143.45 and extend to 142.35 after breaking the previous level, while breaching the resistance represents positive factor that will push the price to attempt to regain the main bullish trend again, to achieve gains that start at 147.10.

The expected trading range for today is between 144.50 support and 146.30 resistance

The expected trend for today: Neutral