The USDCAD pair attempted to breach the intraday bearish channel’s resistance, starting today with new bullish bias to move this resistance, accompanied by stochastic approach to the oversold areas, which forms positive motive that we expect to push the price to achieve more rise in the upcoming sessions.

Therefore, the bullish bias will be expected for today, and the main waited target is located at 1.2778, taking into consideration that breaking 1.2685 will stop the suggested rise and press on the price to resume the decline again.

The expected trading range for today is between 1.2640 support and 1.2780 resistance.

The expected trend for today: Bullish

The USDJPY pair shows negative trades after facing solid barrier formed by the bullish channel’s resistance that appears on the chart, to move below 106.00 now, noticing that stochastic got rid of its negative momentum to show clear oversold signals, waiting to motivate the price to resume the bullish wave that targets 106.44 mainly.

The EMA50 supports the positive overview, which will remain valid conditioned by the price stability above 105.65.

The expected trading range for today is between 105.40 support and 106.50 resistance

The expected trend for today: Bullish

The GBPUSD pair broke the intraday bullish channel’s support line and settled below it, to fall under expected negative pressure on the intraday basis, targeting testing 1.3800 level initially, noting that breaking this level will force the price to continue the decline and head towards 1.3680 followed by .13585 areas as next negative stations.

Therefore, we expect witnessing more decline in the upcoming sessions unless the price managed to breach 1.3900 and hold above it.

The expected trading range for today is between 1.3750 support and 1.3900 resistance.

The expected trend for today: Bearish temporarily

The EURUSD pair ended yesterday below 1.2064, to turn to the downside and head to visit 50% Fibonacci correction level at 1.1976 as a next station, noting that the continuation of the negative pressure and breaking the mentioned level will extend the bearish wave to reach 1.1888.

Therefore, the bearish bias will be suggested for today supported by the EMA50 that presses negatively on the price, noting that breaching 1.2064 will stop the current negative pressure and lead the price to regain the main bullish trend again.

The expected trading range for today is between 1.1950 support and 1.2100 resistance.

The expected trend for today: Bearish