The USDCAD pair provided positive trades to move above 1.2365, which hints the price attempt to recover and stop the current correctional bearish pressure, but we prefer to stay aside temporarily until the price confirms its situation according to the mentioned level followed by detecting the next destination clearly.

Note that holding above 1.2365 will push the price to achieve gains that start by testing 1.2475, while breaking it and trading below it again will press on the price to continue the decline and head towards 1.2230 as a next correctional target.

The expected trading range for today is between 1.2320 support and 1.2450 resistance.

The expected trend for today: Neutral

The USDJPY pair couldn’t now manage to break 113.40 level, to rebound upwards strongly and breach the resistance line that appears on the chart to regain the main bullish track, on its way to achieve positive targets that start by testing the recent recorded high at 114.70 and extend to 115.50.

The EMA50 supports the expected rise, which will remain valid conditioned by the price stability above 113.90 and the most important above 113.40.

The expected trading range for today is between 113.80 support and 114.90 resistance

The expected trend for today: Bullish

The GBPUSD pair declined strongly on last Friday to break 1.3720 and reach the first negative target at 1.3665, noticing that the price completed forming double top pattern that supports the chances of achieving more expected decline in the upcoming sessions, to surpass the current level and reach 1.3605 as a next target.

Therefore, we expect to witness additional negative trades today supported by moving below the EMA50, taking into consideration that breaching 1.3720 will stop the current negative pressure and lead the price to attempt to recover.

The expected trading range for today is between 1.3580 support and 1.3750 resistance.

The expected trend for today: Bearish

The EURUSD pair’s decline stopped near our extended target at 1.1525, and we expect to surpass this level to open the way to extend the bearish wave to reach 1.1400 as a next station, as the pair trades inside major bearish channel that supports the chances of achieving more decline on the short term and medium term basis.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 1.1615 and hold above it.

The expected trading range for today is between 1.1460 support and 1.1615 resistance.

The expected trend for today: Bearish