The USDCAD pair consolidates well above the EMA50, to keep the positive effect of the double bottom pattern active, waiting to resume the bullish trend to head towards 1.3362 as a next positive target.

Therefore, we will keep our bullish overview conditioned by the price stability above 1.3110, as breaking this level will press on the price to return to the main bearish trend again.

The expected trading range for today is between 1.3110 support and 1.3250 resistance.

The expected trend for today: Bullish

The USDJPY pair succeeded to reach our main waited target at 105.20 and settles there, falling under continuous negative pressure coming by the EMA50, to support the chances of breaking this level and open the way to extend the bearish wave on the short term and medium term basis, to head towards 103.65 as a next negative target.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that failing to break 105.20 will push the price to achieve intraday gains and visit 106.44 areas again before any new attempt to decline.

The expected trading range for today is between 104.50 support and 105.90 resistance

The expected trend for today: Bearish

The GBPUSD pair closed the daily candlestick above 1.2880, noticing that the price moves inside an intraday bullish channel that supports the chances of achieving more rise in the upcoming sessions, on its way to head towards 1.3000 as a main positive target.

Therefore, the bullish bias will be suggested for today, noting that breaching 1.3000 will lead the price to continue rising on the short term basis, while breaking 1.2855 represents negative factor that will press on the price to head towards 1.2705 direct.

The expected trading range for today is between 1.2820 support and 1.3000 resistance.

The expected trend for today: Bullish

The EURUSD pair ended yesterday below the main bullish channel’s support line, which hints the price head for bearish correction in the upcoming period, but it finds good support base 1.1840 that attempts to protect the price from suffering more losses, as stochastic shows positive signals that might assist to push the price to return to the bullish channel again.

Therefore, we prefer staying neutral until we get clearer signal for the next trend, noting that breaking 1.1840 will confirm the continuation of the decline and head towards 1.1720 as an initial correctional target, while breaching 1.1885 represents the key to return to the main bullish track and visit 1.2011 as a first positive target.

The expected trading range for today is between 1.1760 support and 1.1940 resistance.

The expected trend for today: Depends on the above mentioned levels