Silver price bounced downwards clearly yesterday, to test 29.63$ level and presses negatively on it, noticing that stochastic gained positive momentum that we expect to push the price to rise again in the upcoming sessions, waiting to visit 30.63$ again.

The price needs to consolidate above 29.63$ to confirm resuming the suggested bullish wave, as breaking this level will push the price to suffer additional losses that reach 28.40$.

The expected trading range for today is between 29.20$ support and 30.10$ resistance.

Trend forecast: Bullish

Gold price decline stopped at 2656.70$, as it met 38.2% Fibonacci correction level for the rise measured from 2596.10$ to 2697.70$, to start bouncing bullishly and head towards resuming the bullish track on the intraday basis, on its way to test 2700.00$ as a first positive target.

Therefore, we are waiting for more expected rise in the upcoming sessions, supported by the positivity of the technical indicators, noting that breaking 2659.00$ will stop the bullish wave to push the price to achieve more bearish correction that its next targets reach 2646.90$ followed by 2634.90$ levels.

The expected trading range for today is between 2655.00$ support and 2695.00$ resistance.

Trend forecast: Bullish

The USDCAD price faces negative pressure by today’s open to test the minor support base 1.4345$, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to motivate the price to resume the main bullish trend within the bullish channel that appears on the chart, noting that the first target is located at 1.4467$.

The continuation of the bullish trend depends on the price stability above 1.4305$, as breaking it will push the price to exit the bullish track to start bearish correction for the rise that started from 1.3419$ areas.

The expected trading range for today is between 1.4320$ support and 1.4450$ resistance

Trend forecast: Overall bullish

The USDJPY price hovers around the EMA50, and we still waiting to return to the bullish channel to confirm resuming the main bullish trend, and the price needs to beach 158.30 to reinforce the chances of heading towards our next positive target at 160.00.

Therefore, we will continue to suggest the bullish trend for the upcoming period, reminding you that breaking 157.35 will put the price under correctional bearish pressure on the intraday basis and stop the expected bullish trend.

The expected trading range for today is between 156.90 support and 158.50 resistance

Trend forecast: Bullish