Silver price rallied upwards strongly yesterday to succeed achieving our first waited target at 28.35 and breach it to attempt to hold above the intraday bullish channel’s resistance, which supports the continuation of our bullish overview efficiently in the upcoming period, reminding you that our next target is located at 29.00.

The EMA50 keeps supporting the price from below to reinforce the expectations of achieving more gains on the intraday and short term basis, noting that breaking 27.90 will press on the price to test 27.00 areas initially before any new attempt to rise.

The expected trading range for today is between 28.00 support and 29.00 resistance.

The expected trend for today: Bullish

Gold price shows more bullish bias to attempt to breach the bullish channel’s resistance line now, which supports the expectations of continuing the main bullish trend, waiting to head towards 1900.00 that represents our next target, noting that the EMA50 keeps supporting the suggested bullish wave.

Therefore, we are waiting for more rise in the upcoming sessions, noting that breaking 1858.00 will stop the suggested positive scenario to press on the price to achieve some temporary bearish correction before resuming the expected bullish trend.

The expected trading range for today is between 1858.00 support and 1895.00 resistance.

The expected trend for today: Bullish

The USDCAD pair succeeded to touch our first waited target at 1.2045 and attempts to break it, which supports the expectations of continuing the bearish trend on the intraday and short term basis, waiting to head towards 1.1900 as a next negative target.

The EMA50 continues to support the expected bearish wave, noting that failing to confirm breaking 1.2045 will lead the price to start new recovery attempts that target testing 1.2190 level again.

The expected trading range for today is between 1.1970 support and 1.2100 resistance.

The expected trend for today: Bearish

The USDJPY pair closed the last daily candlestick below 109.22 level, to fall under expected negative pressure in the upcoming sessions, targeting testing the intraday bullish channel’s support line at 108.65 initially, noting that breaking this level will extend the bearish wave to reach 107.68 as a next negative station.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 109.30 will stop the expected negative pressure to lead the price to recover again.

The expected trading range for today is between 108.40 support and 109.80 resistance

The expected trend for today: Bearish