The USDCAD pair continues to decline to reach the thresholds of the waited target at 1.2480, and we suggest breaking this level affected by the head and shoulders’ pattern that appears on the chart to open the way to head towards 1.2370 as a next negative target.

Therefore, the bearish trend will remain dominant on the intraday and short term basis unless the price rallied to breach 1.2625 and hold above it.

The expected trading range for today is between 1.2420 support and 1.2560 resistance.

The expected trend for today: Bearish

The USDJPY pair managed to touch our waited target at 114.50 and settles there, and according to the trading rules inside the channels, the price is preparing to start bullish wave, but it faces negative pressures that might push it to break the current support and open the way to extend the negative trades on the intraday basis.

Therefore, we prefer to stay aside temporarily until the price confirms its situation according to 114.50 level, as consolidating above it will lead the price to rise again and achieve positive targets that start at 115.45 and extend to 116.50, while breaking it represents the key to continue the bearish bias and head towards 113.60 as a next negative station.

The expected trading range for today is between 113.80 support and 115.30 resistance

The expected trend for today: Neutral

The GBPUSD pair succeeded to surpass 1.3660 level and settled above it, which supports the continuation of our bullish overview in the upcoming sessions, and the way is open to visit 1.3785 followed by 1.3815 levels as next main targets.

The bullish channel continues to organize the suggested bullish wave, noting that holding above 1.3660 is important to continue the expected rise.

The expected trading range for today is between 1.3660 support and 1.3815 resistance.

The expected trend for today: Bullish

The EURUSD pair settles around 1.1440 level after the strong bullish rally that it witnessed yesterday, waiting for more rise to visit 1.1500 followed by 1.1560 levels that represent our next main targets.

Therefore, we will continue to suggest the bullish trend for the upcoming period, supported by the EMA50 that carries the price from below, noting that holding above 1.1375 is important to achieve the expected targets.

The expected trading range for today is between 1.1375 support and 1.1530 resistance.

The expected trend for today: Bullish