The USDCAD pair faced negative pressure yesterday to approach the descending triangle’s support line that appears on the chart at 1.3650, and bounced bullishly to test this pattern’s resistance again, noticing that the price begins today with new bearish bias to remain within the mentioned pattern, which keeps the bearish trend scenario valid and active, waiting to break the mentioned support to confirm rallying towards our next main target at 1.3500.

Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative signal provided by stochastic, taking into consideration that breaching 1.3730 will push the price to turn to rise and achieve gains that start by visiting 1.3815 followed by 1.3860 areas.

The expected trading range for today is between 1.3630 support and 1.3770 resistance.

The expected trend for today: Bearish

The USDJPY pair bounced downwards strongly after approaching our waited positive target at 133.30, to resume the main bearish track and return to the bearish channel again, opening the way to head towards achieving negative targets that reach 128.90 mainly.

Therefore, we suggest the continuation of the bearish trend domination on the intraday and short term basis, supported by the negative pressure formed by the EMA50, noting that breaching 131.75 will push the price out of the bearish channel to head towards achieving new intraday gains that target testing 133.30 level again.

The expected trading range for today is between 129.80 support and 131.50 resistance

The expected trend for today: Bearish

The GBPUSD pair provided positive trades yesterday, attempting to surpass 1.2300 barrier, as it find solid resistance there, waiting for more rise in the upcoming sessions, organized inside the bullish channel that appears on the chart, reminding you that our next target is located at 1.2440.

The price needs to get positive momentum that assists to rally towards the mentioned target, noticing that the EMA50 supports the continuation of the bullish wave within the mentioned bullish channel.

The expected trading range for today is between 1.2210 support and 1.2390 resistance.

The expected trend for today: Bullish

The EURUSD pair rallied upwards strongly on yesterday’s evening to surpass the first target at 1.0800 and achieve the second target at 1.0900, affected by the FOMC rate decision, reinforcing the chances of continuing the domination of the bullish trend on the intraday and short term basis, and we suggest heading towards the previously recorded high at 1.1032 as a next positive station.

Therefore, we are waiting for more rise in the upcoming sessions, supported by the EMA50 that continues to carry the price from below, noting that breaking 1.0820 will push the price to achieve some intraday bearish correction to head towards testing 1.0745 areas before any new attempt to rise.

The expected trading range for today is between 1.0800 support and 1.0990 resistance.

The expected trend for today: Bullish