The USDCAD pair rallied upwards to settle above 1.2590 level again, getting positive support by the EMA50, while stochastic loses its positive momentum to form negative pressure against the price.

Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the mentioned level, noting that consolidating above it will lead the price to achieve additional gains that reach 1.2725, while breaking it and trading below it will press on the price to decline towards 1.2480 mainly.

The expected trading range for today is between 1.2540 support and 1.2670 resistance.

The expected trend for today: Neutral

The USDJPY pair leaned on the key support 125.00 and bounced bullishly from there, to resume the main bullish trend and succeeds to achieve our waited target at 126.55, which breaching it represents the key to rally to test 127.00 direct.

Therefore, the bullish trend scenario will remain valid and active for the upcoming period conditioned by the price stability above 125.00.

The expected trading range for today is between 126.00 support and 127.00 resistance

The expected trend for today: Bullish

The GBPUSD pair bounced downwards strongly after failing to breach 1.3145 level, to trade inside the bearish channel again, which leads the price to achieve more expected decline in the upcoming sessions, targeting testing 1.3000 again.

Therefore, the bearish bias will be suggested for today, and breaking the targeted level will push the price to 1.2920 as a main negative target, while breaching 1.3145 represents the key to achieve new bullish correction that its next target reaches 1.3235.

The expected trading range for today is between 1.2980 support and 1.3145 resistance.

The expected trend for today: Bearish

The EURUSD pair ended yesterday below the bearish channel’s resistance that appears on the chart, which puts the price under the negative pressure again, targeting breaking 1.0775 to extend the bearish wave towards 1.0700 as a next station.

Therefore, we expect to witness new negative trades in the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 1.0830 and holding above it will stop the expected decline and lead the price to start new recovery attempts.

The expected trading range for today is between 1.0740 support and 1.0890 resistance.

The expected trend for today: Bearish