The USDCAD pair settles below 1.2590 level, to keep the negative pressure valid for the upcoming period, waiting to visit 1.2480 as a next negative target.

Holding below 1.2590 is important to continue the expected decline, as breaching it will lead the price to start new recovery attempts and head to test 1.2725 areas mainly.

The expected trading range for today is between 1.2490 support and 1.2630 resistance.

The expected trend for today: Bearish

The USDJPY pair managed to breach 121.00 level and close the daily candlestick above it, which supports the continuation of the expected bullish trend on the intraday and short term basis, opening the way to head towards our next target at 121.70.

Therefore, we will continue to suggest the bullish trend conditioned by the price stability above 120.10.

The expected trading range for today is between 120.70 support and 121.90 resistance

The expected trend for today: Bullish

The GBPUSD pair faced strong negative pressure yesterday to break 1.3235 level and retest the previously breached neckline of the inverted head and shoulders’ pattern that appears on the chart at 1.3175, which urges caution from the upcoming trading, as breaking this level will cancel the positive effect of the mentioned pattern and press on the price to resume the bearish trend again, to head towards 1.3000 areas on the near term basis, while consolidating above it and breaching 1.3235 will lead the price to achieve additional bearish correction that its next targets reach 1.3310 followed by 1.3380.

Therefore, we prefer to stay aside now until the price confirms breaking 1.3175 support or breaching 1.3235 resistance.

The expected trading range for today is between 1.3100 support and 1.3280 resistance.

The expected trend for today: Neutral

The EURUSD pair continues the calm decline, settling below 1.1000 level, reinforcing the expectations of continuing the bearish trend, which get continuous support by the EMA50, waiting to test 1.0920 level as a first station, which breaking it represents the key to rally towards 1.0775.

On the other hand, we should note that breaching 1.1050 might push the price to test 1.1145 before any new attempt to decline.

The expected trading range for today is between 1.0890 support and 1.1050 resistance.

The expected trend for today: Bearish