Silver price leaned on the minor support 22.85 and bounced bullishly to surpass 23.05 level by today’s open, motivated by stochastic positivity, which reactivates the expected bullish trend scenario on the intraday and short term basis, on its way to achieve positive targets that start by visiting 24.00 areas.

Therefore, we are waiting for more expected rise in the upcoming sessions, supported by the EMA50 that carries the price from below, and breaching 23.35 will ease the mission of achieving the waited target, noting that breaking 23.05 followed by 22.85 levels will stop the expected rise and press on the price to turn to decline.

The expected trading range for today is between 22.70 support and 23.60 resistance.

The expected trend for today: Bullish

Gold price’s decline stopped at 1944.00 areas, to start providing positive trades and test the key resistance 1962.50, to hint the attempt to recover and regain the main bullish trend, as it gets positive support by the technical indicators.

The current contradiction between the technical factors makes us prefer to stay aside until we get clearer signal for the next trend, noting that continuing the rise and breaching 1962.50 will push the price to regain the main bullish trend and head to visit 2000.00 areas as a first positive station, while breaking 1950.00 represents negative factor that will push the price to achieve additional bearish correction that its targets begin at 1933.20 and extend to 1909.55 after breaking the previous level.

The expected trading range for today is between 1945.00 support and 1980.00 resistance.

The expected trend for today: Neutral

The USDCAD pair faced strong negative pressure yesterday to break 1.3680 level and settles below it, starting today with more decline to attack key support line at 1.3650 now, and by taking deeper look at the chart, we find that this level forms neckline for triple top pattern that has negative targets that reach 1.3500 areas.

Therefore, we expect to witness more decline in the upcoming sessions, and the price needs to get four hours’ candlestick initially below 1.3650 to reinforce the expectations of continuing the bearish trend, noting that breaching 1.3650 followed by 1.3680 levels will stop the expected decline and push the price to attempt to recover again.

The expected trading range for today is between 1.3550 support and 1.3700 resistance.

The expected trend for today: Bearish

The USDJPY pair traded with clear positivity yesterday and approached 132.00 barrier, but we notice that the price begins to decline by today’s open, as it rebounds bearishly from the bearish channel’s resistance that appears on the chart, which leads the price to achieve expected negative trades in the upcoming sessions, its targets begin at 128.90.

The EMA50 forms continuous negative pressure against the price, accompanied by witnessing clear negative signals through stochastic, which reinforces the expectations of continuing the bearish trend for today.

On the other hand, we should note that breaching 131.65 will stop the suggested negative scenario and lead the price to achieve additional gains that reach 133.30.

The expected trading range for today is between 129.70 support and 131.50 resistance

The expected trend for today: Bearish