The price of (EURUSD) declined in its recent intraday levels, after retesting the key resistance at 1.1745, accompanied by reaching the resistance of its EMA50, putting it under the intensive negative pressure to surrender to this pressure, especially with the (RSI) reach to exaggerated overbought levels compared by the price move, opening the way for more of the downside moves.

The NZDCAD is under strong negative pressures, reaching the support of the minor bullish channel at 0.8242, forcing it to suffer some losses by hitting 0.8175.

Forming new resistance by the broken support and providing negative momentum by the main indicators make us expect forming bearish waves, to attempt to reach 0.8140 and 0.8075.

The expected trading range for today is between 0.8140 and 0.8230

Trend forecast: Bearish

The EURJPY pair resumed the bullish attempts, taking advantage of its repeated stability above the extra support at 169.10, reaching the previously suggested target at 171.60, to face the resistance of the main bullish channel, which forces it to form a sideways fluctuation by its rebound to 171.30.

Due to the strength of the current resistance we expect entering instability station by the contradiction of the resistance stability against the main indicators attempts to provide the positive momentum, while resuming the bullish attack requires forming new bullish wave to settle above 172.00 level, to open the way towards recording extra gains that might begin at 172.80 reaching 173.90.

The expected trading range for today is between 170.45 and 171.90

Trend forecast: Fluctuated within the bullish track

The GBPJPY pair took advantage of the positive factors that are represented by the main stability within the bullish channel’s levels by forming extra support at 196.70, forming a strong bullish rally yesterday, achieving the initial targets by reaching 199.00 level, providing new positive signal due to surpassing 66.8%Fibonacci correction level.

Today’s trading began with new positivity, to hit 199.45, which makes us keep the bullish suggestion that is conditioned by holding above 198.80, to increase the chances for reaching new positive stations that might extend to 200.30 and 201.55, while the risk of delaying the rise will be if the price returns to fluctuate below the extra support near 197.50.

The expected trading range for today is between 198.80 and 200.30

Trend forecast: Bullish