Silver price continues to fluctuate around the broken neckline of the head and shoulders’ pattern, and the EMA50 forms continuous negative pressure against the price, to continue suggesting the bearish trend that depends on the price stability below 23.95, reminding you that we are waiting to visit 22.90 as a next main target.

The expected trading range for today is between 23.30 support and 24.10 resistance.

The expected trend for today: Bearish

Gold price ended yesterday below 1797.00 level, to hint heading to decline again, supported by moving below the EMA50, but we notice that stochastic shows positive signals that might assist to push the price to recover.

Therefore, this contradiction between the technical factors makes us prefer staying neutral until we get clearer signal for the next trend, noting that breaking 1786.00 will press on the price to achieve more decline and visit 1770.00 level initially, while breaching 1797.00 represents the key to reactivate the positive scenario that its first target located at 1825.15.

The expected trading range for today is between 1770.00 support and 1810.00 resistance.

The expected trend for today: Neutral

The USDCAD pair resumed its negative trades yesterday to approach our first waited target at 1.2600, reinforcing the expectations of continuing the bearish trend, noting that breaking the mentioned level will push the price to 1.2495 as a next negative target.

Moving below the EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 1.2720.

The expected trading range for today is between 1.2560 support and 1.2700 resistance.

The expected trend for today: Bearish

The USDJPY pair managed to touch our waited target at 109.20 and presses negatively on it, to hint the attempt to achieve more potential decline in the upcoming sessions, but we prefer staying neutral until we get clearer signal for the next trend, through monitoring the price behavior according to the mentioned level.

Note that breaking 109.20 will press on the price to achieve additional decline that its targets begin at 108.70 and extend to 107.70, while consolidating above it will lead the price to resume the main bullish wave that targets 109.90 followed by 111.00 levels initially.

The expected trading range for today is between 108.50 support and 109.90 resistance

The expected trend for today: Neutral