The USDCAD pair continues to move near 1.2475 level, as it finds solid resistance there, waiting to get strong positive motive that assist to push the price to breach this level and rally towards 1.2590 that represents our next positive target.

In general, the bullish trend scenario will remain valid for the upcoming period unless breaking 1.2365 and holding below it.

The expected trading range for today is between 1.2390 support and 1.2530 resistance.

The expected trend for today: Bullish

The USDJPY pair faced strong negative pressure to break 113.40 level and settles below it, to complete forming double top pattern that supports the chances of achieving additional bearish correction on the intraday basis, and the way is open to test 38.2% level at 112.60, noting that breaking this level will push the price to 111.90 as a next correctional level.

Therefore, the bearish bias will be suggested for the upcoming period unless the price managed to breach 113.40 and hold above it.

The expected trading range for today is between 112.00 support and 113.40 resistance

The expected trend for today: Bearish

The GBPUSD pair rallied upwards yesterday to breach 1.3530 level and heads to achieve more expected rise on the intraday basis, approaching to test 23.6% Fibonacci correction level for the decline measured from 1.4248 to 1.3413, noting that breaching this level will extend the bullish wave to reach 1.3730 direct.

Therefore, the bullish bias will be suggested for the upcoming period, being aware that we need two key conditions to continue the bullish wave; surpassing 1.3610 level, and consolidating above 1.3500.

The expected trading range for today is between 1.3480 support and 1.3650 resistance.

The expected trend for today: Bullish

The EURUSD pair breached the bearish channel’s resistance and heads towards achieving temporary intraday gains, expecting to test 1.1615 level before turning back to decline again, noticing that stochastic and the EMA50 provide negative signals that support the continuation of the overall negative scenario.

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.1615, noting that we are waiting to visit 1.1525 followed by 1.1400 levels as next main stations.

The expected trading range for today is between 1.1500 support and 1.1650 resistance.

The expected trend for today: Bearish