Silver price breached 22.13 level clearly and settled above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to head towards our next target that reaches 23.05.

By taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass the mentioned level to reach 24.00 areas.

Therefore, we expect to witness more rise on the intraday and short term basis, supported by the EMA50 that continues to carry the price from below, noting that breaking 22.13 will stop the bullish bias and put the price under intraday negative pressure that its targets begin by testing 21.40.

The expected trading range for today is between 21.90 support and 22.65 resistance.

The expected trend for today: Bullish

Gold price achieved new strong rises to surpass our waited target at 1960.00 and approach the psychological barrier at 2000.00$, which supports the continuation of the bullish trend on the intraday and short term basis, noting that surpassing the mentioned barrier will push the price to head towards 2040.00 areas as a next main station.

The EMA50 provides continuous positive support to the price, while stochastic negativity might cause some temporary bearish bias before resuming the bullish bias.

In general, we suggest the continuation of the overall bullish trend domination, and the price needs to hold above 1960.00 as a first condition to continue the expected rise, as breaking it will press on the price to achieve some intraday bearish correction before turning back to rise again.

The expected trading range for today is between 1960.00 support and 2000.00 resistance.

The expected trend for today: Bullish

The USDCAD pair faces solid support at 1.3680, finding difficulty to break it, to show temporary positive trades, noticing that the price recorded new lower high to form negative pattern that we are waiting to motivate the price to continue the decline in the upcoming sessions, and the price needs to break the mentioned support to confirm rallying towards 1.3500 as a next main target.

Therefore, the bearish trend will remain expected for the upcoming period, supported by the negative signal provided by stochastic, besides moving below the EMA50, noting that breaching 1.3760 will cancel the suggested negative formation and push the price to turn to rise.

The expected trading range for today is between 1.3640 support and 1.3780 resistance.

The expected trend for today: Bearish

The USDJPY pair managed to touch our first waited target at 131.60, and continues to move within the bearish channel that appears on the chart, which supports the chances of continuing the decline towards our next target that reaches 130.50.

Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that breaching 133.30 will stop the expected decline and lead the price to start new bullish wave.

The expected trading range for today is between 131.20 support and 132.90 resistance

The expected trend for today: Bearish