The USDCAD pair rallied upwards strongly yesterday to approach our waited target at 1.3362, reinforcing the expectations of continuing the bullish trend, noting that surpassing the mentioned level will extend the bullish wave to reach 1.3450 as a next main station.

The EMA50 continues to support the price from below, to keep the bullish bias suggested for the upcoming period unless breaking 1.3190 level and holding below it.

The expected trading range for today is between 1.3250 support and 1.3390 resistance.

The expected trend for today: Bullish

The USDJPY pair showed positive trades yesterday to approach 105.00 barrier, noticing that stochastic lost its positive momentum to reach the overbought areas, waiting to motivate the price to resume the expected bearish trend on the intraday and short term basis, which targets 103.65 mainly.

Therefore, the bearish trend scenario will remain active unless the price rallied to breach 105.20 and hold above it.

The expected trading range for today is between 103.50 support and 105.00 resistance

The expected trend for today: Bearish

The GBPUSD pair settled around 1.2800 level after the strong decline that it witnessed yesterday, falling under the negative pressure formed by the EMA50, waiting for more bearish bias to visit 1.2705 level that represents our next main target.

Therefore, the bearish trend scenario will remain active for the upcoming period, taking into consideration that breaching 1.2880 might push the price to achieve intraday gains and test 1.3000 again before any new attempt to decline.

The expected trading range for today is between 1.2705 support and 1.2900 resistance.

The expected trend for today: Bearish

The EURUSD pair succeeded to reach few pips away from our waited target at 1.1720, showing some slight bullish bias affected by stochastic positivity, noticing that the price moves inside the bearish channel that appears on the chart, which supports the chances of surpassing the mentioned level and open the way to head towards the next correctional level that reaches 1.1540.

Therefore, we expect the continuation of the bearish bias in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that the expected decline will remain valid unless the price rallied to breach 1.1860 followed by 1.1910 levels and hold above them.

The expected trading range for today is between 1.1670 support and 1.1840 resistance.

The expected trend for today: Bearish