The USDCAD pair broke 1.2725 level strongly and ended yesterday below it, to stop the recently suggested positive scenario and head to visit 1.2590 level as a next negative station, as it returns to the correctional bearish track again.

Therefore, the bearish bias will be expected for today unless the price rallied to breach 1.2725 and hold above it again.

The expected trading range for today is between 1.2600 support and 1.2735 resistance.

The expected trend for today: Bearish

The USDJPY pair managed to breach 118.40 level and hold above it, to support the continuation of the bullish trend scenario efficiently in the upcoming sessions, which its next targets extend to 119.90.

The EMA50 continues to support the suggested bullish wave, noting that breaking 118.40 will press on the price to start correctional bearish wave on the intraday basis before turning back to rise again.

The expected trading range for today is between 118.20 support and 119.30 resistance

The expected trend for today: Bullish

The GBPUSD pair breached the bearish channel’s resistance clearly and approaches the most important resistance at 1.3175, to hint the attempt to recover and start correctional bullish wave, but we prefer to stay aside until we get clearer signal for the next trend, as the price faces contradiction between the technical factors now.

Note that breaching 1.3175 will push the price to achieve additional gains that reach 1.3235 followed by 1.3310, while breaking 1.3085 will press on the price to resume the main bearish trend that its targets begin by testing 1.3000 level again.

The expected trading range for today is between 1.3070 support and 1.3240 resistance.

The expected trend for today: Depends on the above mentioned levels

The EURUSD pair breached 1.1000 level and settled above it, to turn to rise on the intraday basis and head to test 1.1145 mainly, making the bullish bias suggested for today.

It is important to monitor the price when reaching the mentioned target, as breaching it will lead the price to achieve more gains on the intraday and short term basis, while breaking 1.1000 represents negative factor that will press on the price to decline again.

The expected trading range for today is between 1.0960 support and 1.1120 resistance.

The expected trend for today: Bullish