The USDCAD pair settled above the intraday bearish channel’s resistance, to activate the bullish trend scenario for the upcoming period, on its way to achieve positive targets that start at 1.2854.

Therefore, the bullish bias will be expected for today supported by moving above the EMA50, noting that the continuation of the bullish wave depends on the price stability above 1.2740 and the most important above 1.2688.

The expected trading range for today is between 1.2700 support and 1.2840 resistance.

The expected trend for today: Bullish

The USDJPY pair tested 103.65 level without managing to break it until now, waiting to get negative motive that supports the chances of confirming the break to rally towards 102.50 that represents our next negative station.

In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 103.90 level and holding above it.

The expected trading range for today is between 103.00 support and 104.40 resistance

The expected trend for today: Bearish

The GBPUSD pair could not manage to hold above 1.3700, to rebound bearishly and approach the key support 1.3645 now, noticing that the price draws negative pattern that its confirmation level located at the mentioned support, thus, breaking it will press on the price to turn to decline and achieve negative targets that start at 1.3590 and extend to 1.3530.

Therefore, the bearish bias will be suggested for today unless breaching 1.3710 and holding above it.

The expected trading range for today is between 1.3550 support and 1.3730 resistance.

The expected trend for today: Bearish

The EURUSD pair ended yesterday below 1.2145 level, starting today with new bearish bias to test the intraday bullish channel’s support line that appears on the chart, which forms potential bearish flag, which means that breaking 1.2120 will put the price under more negative pressure to visit 1.2064 direct.

Now, we prefer staying aside until we get clearer signal for the next trend, which we will get through breaking 1.2120 support or breaching 1.2173 resistance, noting that breaching this resistance will push the price to resume the main bullish trend that its next target located at 1.2300.

The expected trading range for today is between 1.2040 support and 1.2220 resistance.

The expected trend for today: Neutral