The USDCAD price traded with clear positivity to reach the thresholds of the first waited target at 1.3653$, and we suggest breaching this level to achieve more gains in the upcoming period, as it is affected by the previously completed double bottom pattern, to head towards visiting 1.3700$ followed by 1.3765$ levels as next main targets.

The EMA50 supports the suggested bullish wave, which will remain valid unless breaking 1.3562$ and holding below it.

The expected trading range for today is between 1.3550$ support and 1.3680$ resistance.

Trend forecast: Bullish

The USDJPY price surpassed 142.00 level to surpass the key resistance 143.40 by today’s open, noticing that the price attempts to consolidate below this level, accompanied by the RSI loss to the positive momentum, which supports the chances of resuming the expected bearish trend on the intraday and short-term basis, which its targets begin by testing 140.24.

Holding below 143.40 is important to the continuation of the expected decline, as breaching it will lead the price to achieve additional gains and test 145.36 before any new negative attempt.

The expected trading range for today is between 142.30 support and 144.00 resistance

Trend forecast: Bearish

The GBPUSD price succeeded to achieve our waited target at 1.3265$ and reached the thresholds of 1.3300$ barrier, to rebound bearishly and test the EMA50 that forms good support against the price, to resume the positive trades now and attempt to rise again, waiting to surpass the mentioned target to open the way to head towards 1.3325$ as a next positive station.

Therefore, the bullish trend will remain valid for the upcoming period, noting that breaking 1.3124$ will force the price to turn to decline and achieve bearish correction on the intraday basis.

The expected trading range for today is between 1.3120$ support and 1.3280$ resistance.

Trend forecast: Bullish

The EURUSD price rose strongly yesterday to approach our waited target at 1.1200$, as it was affected by the Federal Reserve that cut the US dollar interest rate, noticing that the price bounce bearishly to attack 1.1100$ level, as it started today with additional negativity to break this level, but it recovers now and attempts to trade above it again.

Now, we will depend on yesterday’s close above 1.1100$ to keep our bullish overview for the upcoming period, which gets good support by the EMA50, waiting to visit 1.1200$ as a next main station, taking into consideration that holding below 1.1100$ will put the price under new correctional pressure that targets 1.1040$ areas initially.

The expected trading range for today is between 1.1040$ support and 1.1200$ resistance.

Trend forecast: Bullish