The GBPUSD pair broke 1.3670 strongly and declined sharply to touch our extended target at 1.3600 and attempts to break it, which hints heading to achieve more expected decline on the short term and medium term basis, noting that the next target reaches 1.3500, while the price needs to hold below 1.3670 to continue the expected bearish trend.

The EURUSD pair managed to break 1.1780 and closed the last four hours’ candlestick below it, which supports the continuation of our bearish overview efficiently for the upcoming period, reminding you that our next target is located at 1.1700, while holding below 1.1780 represents initial condition to continue the suggested decline.

The CADJPY price suffered strong negative pressures that forces it to exit the bullish track by reaching the bullish channel’s support at 87.29, suffering big losses by reaching the extra support at 85.45 level.

We expect forming temporary sideways fluctuation until breaking the current support, which allows it to continue the negative attack and targeting new negative levels that begin at 84.73 and 83.90.

The expected trading range for today is between 86.45 and 84.75

The expected trend for today: Bearish

The European index price provided a new negative close below the extra support at 3950.00 to confirm its surrender to the bearish correctional bias domination, recording the initial negative targets by reaching 3902.00.

The stability of the moving average 55 near the broken support will increase the chances for forming an extra barrier by this level, accompanied with stochastic negativity that is located near 20 level, to increase the chances for the trading decline to 3855.00 and 3780.00.

The expected trading range for today is between 3950.00 and 3855.00

The expected trend for today: Bearish