Silver price provided additional positive trades yesterday to test the key resistance 22.90, which represents the bearish channel’s resistance, noticing that the EMA50 meets this resistance to add more strength to it, waiting to resume the main bearish wave that its next targets located at 21.65 followed by 20.75.

On the other hand, we should note that breaching 22.90 will stop the suggested negative scenario and lead the price to turn to rise.

The expected trading range for today is between 22.20 support and 23.00 resistance.

The expected trend for today: Bearish

Gold price settled above 1770.00 level after the bullish rally that it witnessed in the previous sessions, to hint the attempt to recover and achieve more gains in the upcoming sessions, but we notice that the price still below the broken neckline of the head and shoulders’ pattern, which might push the price to resume the negative trades again.

Therefore, the contradiction between the technical factors makes us stay aside until we get clearer signal for the next trend, noting that breaching 1780.00 will lead the price to visit 1797.00 direct, while breaking 1770.00 will reactivate the bearish trend scenario that its next main target located at 1735.00.

The expected trading range for today is between 1760.00 support and 1797.00 resistance.

The expected trend for today: Neutral

The USDCAD pair provided clear positive trades yesterday but it faced solid resistance at 1.2840 again, to show some temporary decline now, noting that the price continues to move inside the bullish channel that appears on the chart, to keep the bullish trend scenario valid and active on the intraday and short term basis, which targets 1.2950 as a next station.

The EMA50 supports the suggested bullish wave, reminding you that it is important to hold above 1.2775 and 1.2740 levels to achieve the waited targets.

The expected trading range for today is between 1.2740 support and 1.2870 resistance.

The expected trend for today: Bullish

The USDJPY pair tested 109.20 level again and kept its stability above it, noticing that the price begins today with new bullish bias in attempt to resume the expected bullish trend on the intraday basis, which its targets begin by breaching 109.80 to open the way to head towards 111.00.

Holding above 109.20 is important to continue the bullish trend, as breaking it will press on the price to continue moving inside the bearish channel that appears on the chart to achieve negative targets that reach 107.70.

The expected trading range for today is between 109.00 support and 110.00 resistance

The expected trend for today: Bullish