Silver price bounced downwards clearly after retesting the broken neckline of the head and shoulders’ pattern, to test the key support 23.00 that formed good support line against the price, to start rising again, noticing that the price faces contradicted factors that make us prefer to stay aside to monitor the price and wait clearer confirmation signal for the next trend, through breaching 23.70 resistance or breaking 23.00 support.

Note that breaking the mentioned support will push the price to resume the bearish wave that targets 22.25 areas as a next main station, while breaching the resistance represents positive factor that will lead the price to recover and build bullish wave that its first main target located at 24.60.

The expected trading range for today is between 22.80 support and 23.70 resistance.

The expected trend for today: Neutral

Gold price approached 2065.70 level, facing contradiction between the technical factors now, as stochastic provides negative signals that might push the price to decline again, while the EMA50 forms positive support that carries the price from below, and it might assist to achieve more gains on the intraday basis, especially after confirming breaching the minor bearish channel’s resistance that appears on the chart.

Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaking 2037.50 support will push the price to resume the correctional bearish wave that its targets begin at 2016.90 and extend to 1977.46 after breaking the previous level, while breaching 2065.70 resistance represents the key to regain the main bullish trend and head to achieve gains that start by testing 2100.00$ barrier and reach 2144.60 on the near-term basis.

The expected trading range for today is between 2035.00 support and 2075.00 resistance.

The expected trend for today: Neutral

The USDCAD pair tested the key support 1.3440 and bounced bullishly from there, to keep the bullish trend scenario valid and active for the upcoming period, supported by the EMA50 that meets the mentioned level to add more strength to it, reminding you that our main waited target reaches 1.3500.

Stochastic loses the positive momentum and might cause some sideways fluctuation before resuming the suggested bullish wave, noting that breaking 1.3350 will stop the expected rise and push the price to turn to decline.

The expected trading range for today is between 1.3330 support and 1.3460 resistance.

The expected trend for today: Bullish

The EMA50 formed solid support against the USDJPY pair’s attempts to decline, to show some slight bullish bias, affected by stochastic positivity, and the price needs to get negative momentum that assist to resume the negative trades and surpass the EMA50 to open the way to achieve our negative targets that start at 143.45 and extend to 142.35.

In general, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 145.90 and hold above it.

The expected trading range for today is between 144.10 support and 145.50 resistance

The expected trend for today: Bearish