The USDCAD pair bounced downwards clearly yesterday after approaching 1.2895 level, to press on the key support 1.2780, noticing that the price forms double top pattern now that might push the price to decline again and resume the main bearish trend, while the EMA50 and stochastic attempt to provide the positive support to the price.

Therefore, the contradiction between the technical factors makes us prefer staying aside until the price confirms its situation according to 1.2780 level, as breaking it will complete the mentioned negative pattern and push the price towards 1.2650 followed by 1.2590 levels mainly, while holding above it will reactivate the bullish trend scenario that its next target located at 1.2895.

The expected trading range for today is between 1.2700 support and 1.2860 resistance.

The expected trend for today: Neutral

The USDJPY pair succeeded to reach our waited target at 105.20 and settles near it, noticing that stochastic attempts to gather the positive momentum on the intraday basis, to support the chances of continuing the bullish wave and surpass the mentioned level to open the way to achieve more gains, which extend to 106.00 followed by 106.44.

Therefore, we will continue to suggest the bullish trend for the upcoming period, taking into consideration that failing to achieve the breach might push the price to test 104.40 followed by 103.95 levels before any new attempt to rise.

The expected trading range for today is between 104.40 support and 105.70 resistance

The expected trend for today: Bullish

The GBPUSD pair faced strong negative pressure yesterday and attempted to break 1.3650 level, but it ended trades above it, which keeps the positive scenario active until now, waiting to head towards 1.3815 areas mainly.

We should note that breaking 1.3650 and holding below it will put the price under additional negative pressure that targets visiting 1.3520 followed by 1.3470 levels before any new attempt to rise.

The expected trading range for today is between 1.3600 support and 1.3770 resistance.

The expected trend for today: Bullish

The EURUSD pair confirmed breaking 1.2064 level after closing the daily candlestick below it, to support the continuation of the correctional bearish trend, which its next target located at 1.1976.

The EMA50 continues to support the suggested bearish wave, and it might retest the broken support before resuming the expected decline, which will remain valid unless breaching 1.2064 followed by 1.2095 levels and holding above them.

The expected trading range for today is between 1.1950 support and 1.2100 resistance.

The expected trend for today: Bearish