The USDCAD pair showed new test to 1.3382 level and kept its stability below it, to keep the bearish trend scenario valid for the upcoming period, supported by the negative signal provided by stochastic, waiting to head towards 1.3245 followed by 1.3128 levels mainly.

We should note that breaching 1.3382 and holding above it will push the price to turn to rise and achieve positive targets that begin at 1.3500.

The expected trading range for today is between 1.3260 support and 1.3420 resistance.

The expected trend for today: Bearish

The USDJPY pair shows sideways and tight trades recently, keeping its stability below 112.14, noticing that stochastic begins to provide negative overlapping signal on the four hours’ time frame, which forms motive that we are waiting to push the price to resume the expected bearish trend for the upcoming period, which targets 111.45 followed by 110.86 levels mainly.

We should note that breaching 112.14 will stop the expected decline and push the price to resume the bullish trend on the short term basis.

The expected trading range for today is between 111.10 support and 112.60 resistance

The expected trend for today: Bearish

The GBPUSD pair shows more decline to approach our waited target at 1.2962, noticing that the price broke the triangle’s support line that appears on the chart, which puts the price under more negative pressure on the longer term basis, paving the way to break the mentioned level and open the way to extend the bearish wave towards 1.2800 as a next target.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 1.3080.

The expected trading range for today is between 1.2900 support and 1.3055 resistance.

The expected trend for today: Bearish

The EURUSD pair settled below 1.1255 level after the negative pressure that it witnessed yesterday, as the EMA50 formed solid resistance against the price, which might push the price to test the key support 1.1180, but we notice that stochastic gets rid of its positive momentum to hint getting positive factor that might push the price to recover again.

Therefore, we prefer staying aside until we get clearer signal for the next trend, which we will get through breaking 1.1180 support or breaching 1.1255 resistance, noting that breaching this resistance will reactivate the temporary bullish trend scenario that targets 1.1350 followed by 1.1443 levels mainly, while breaking the support will press on the price to continue the bearish trend on the short term and medium term basis, to head towards 1.1100 as a next negative station.

Note that we might witness calm trades today, affected by the markets’ holidays.

The expected trading range for today is between 1.1160 support and 1.1330 resistance.

The expected trend for today: Neutral