USDCAD Price Analysis

Expected Scenario

• The USDCAD price attempted to breach 1.3505$ but bounced upwards strongly by yesterday’s close.
• The sideways bias remains dominant on the intraday basis until the price confirms breaching 1.3606$ resistance or breaking 1.3505$ support.
• Breaking the mentioned resistance will lead the price to continue the main bullish trend and target 1.3700$ areas as the next positive station.
• Breaking the support will push the price to achieve additional bearish correction with the next target reaching 1.3440$.

Expected Trading Range

• Between 1.3480$ support and 1.3620$ resistance.

USDJPY Price Analysis

Expected Scenario

• The USDJPY price ended yesterday with clear negativity, breaking the ascending triangle’s support line and settling below it.
• This suggests expected negative pressure in the upcoming sessions, with the price likely to test 150.55 as the next negative target.
• The bearish bias will be suggested for today, supported by moving below the EMA50.
• Breaching 151.40 followed by 151.80 will stop the current negative pressure and lead the price to resume the main bullish track again.

Expected Trading Range

• Between 150.40 support and 151.90 resistance.

GBPUSD Price Analysis

Expected Scenario

The GBPUSD price approached the 1.2700$ level and bounced bearishly to test the EMA50 that forms intraday support at 1.2625$. The price needs to consolidate above this level as a first condition for the continuation of the expected bullish trend on the intraday basis. Breaching 1.2700$ will extend the bullish wave to reach 1.2800$.

RSI interprets the reasons for the current decline, noting that breaking 1.2625$ followed by 1.2580$ levels will stop the bullish trend and put the price under the correctional bearish pressure again.

Expected Trading Range

Between 1.2570$ support and 1.2730$ resistance.

EURUSD Price Analysis

Expected Scenario

The EURUSD price bounced bearishly after testing 1.0860$ level, which formed solid resistance against the price, pushing it to decline in the upcoming sessions, on its way to test 1.0765$ as the next main station.

Therefore, the bearish bias will be suggested for today, supported by stochastic current negativity. Breaching 1.0860$ will stop the negative scenario and lead the price to recover and achieve gains that start by visiting 1.0960$.

Expected Trading Range

Between 1.0750$ support and 1.0900$ resistance.