The USDCAD pair managed to achieve our waited target at 1.2495 and broke it to close the daily candlestick below it, which supports the chances of continuing the bearish trend on the intraday and short term basis, paving the way to head towards 1.2365 as a next negative target.

The EMA50 supports the expected decline, noting that breaching 1.2495 will lead the price to start recovery attempts that target testing 1.2590 areas initially.

The expected trading range for today is between 1.2230 support and 1.2520 resistance.

The expected trend for today: Bearish

The USDJPY pair succeeded to surpass our main waited target at 112.05 and rallies upwards by today’s open to confirm opening the way to extend the bullish wave on the intraday and short term basis, waiting to visit 113.40 as a next positive station.

Therefore, the bullish bias will remain dominant in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 112.05 and the most important above 111.70.

The expected trading range for today is between 112.20 support and 113.30 resistance

The expected trend for today: Bullish

The GBPUSD pair kept its stability above the support base formed above 1.3600, to resume its positive trades and reach our first waited target at 1.3660, and by taking a deeper look at the chart, we find that the price forms double bottom pattern that has positive targets that start at 1.3795 and extend to 1.3865.

Therefore, we believe that the chances valid to achieve more rise in the upcoming sessions, taking into consideration that breaking 1.3600 will stop the positive scenario and press on the price to turn to decline.

The expected trading range for today is between 1.3580 support and 1.3740 resistance.

The expected trend for today: Bullish

The EURUSD pair shows slight positive trades to approach the EMA50 that forms continuous negative pressure against the price, noticing that the recent trades are confined within minor bullish channel that we believe it forms bearish flag pattern, thus, breaking 1.1545 will activate the negative effect of this pattern and lead the price to resume the bearish trend that its first target located at 1.1500.

Stochastic loses its positive momentum gradually to support the expectations to decline, which will remain valid unless breaching 1.1605 and holding above it.

The expected trading range for today is between 1.1480 support and 1.1620 resistance.

The expected trend for today: Bearish