The USDCAD pair provided positive trades yesterday to test the key resistance 1.3612 and settles there now, accompanied by stochastic entering the overbought areas, noting that the mentioned level meets the main bearish channel’s resistance now, which adds more strength to these areas.

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 1.3500 followed by 1.3362 levels mainly, noting that breaching 1.3612 and holding above it will stop the negative scenario and leads the price to achieve more gains on the intraday and short term basis.

The expected trading range for today is between 1.3500 support and 1.3650 resistance.

The expected trend for today: Bearish

The USDJPY pair makes new test to 107.68 level and keeps its stability below it, noticing that stochastic provides clear negative signals on the four hours’ time frame, waiting to motivate the price to resume the expected bearish trend in the upcoming period, which targets 106.44 level as a next station.

Note that breaking 107.20 will ease the mission of achieving the mentioned target, while the expected decline will remain valid unless breaching 107.68 and holding with a daily close above it.

The expected trading range for today is between 106.60 support and 108.00 resistance

The expected trend for today: Bearish

The GBPUSD pair breached 1.2515 level clearly and closed the daily candlestick above it, to complete forming inverted head and shoulders’ pattern that its signs appear on the chart and activates the bullish trend scenario on the intraday and short term basis, targeting visiting 1.2777 level mainly.

Therefore, the bullish bias will be expected for today, supported by the EMA50, noting that breaking 1.2515 will stop the suggested rise and put the price under negative pressure on the intraday basis.

The expected trading range for today is between 1.2480 support and 1.2660 resistance.

The expected trend for today: Bullish

The EURUSD pair settles above 1.1270 level, as the EMA50 meets this support to add more strength to it, while stochastic shows oversold signals, which supports the chances of bouncing bullishly to resume the expected bullish trend on the intraday and short term basis, which its next target located at 1.1420.

On the other hand, we should note that breaking 1.1270 and holding below it will put the price under negative pressure that targets 1.1175 areas initially.

The expected trading range for today is between 1.1200 support and 1.1380 resistance.

The expected trend for today: Bullish