USDCAD Price Analysis

Expected Scenario

• The USDCAD price successfully breached the 1.3705$ level and closed the daily candlestick below it, strengthening the outlook for the continuation of the correctional bearish trend.
• This trend targets 1.3660$ followed by 1.3620$ levels as the next main stations.
• The expected decline is influenced by the previously completed head and shoulders’ pattern, with the price possibly testing the bullish channel’s support line around 1.3565$ before resuming the main bullish track.
• However, breaking above 1.3760$ will invalidate the current negative scenario and push the price higher.

Expected Trading Range

Between the support at 1.3620$ and the resistance at 1.3750$

USDJPY Price Analysis

Expected Scenario

• The USDJPY price encounters strong resistance at the 154.78 level and continues to fluctuate around it, attempting to breach it to target the next main resistance at 156.00.
• The bullish trend scenario remains active on both intraday and short-term bases, delineated within a bullish channel on the chart.
• However, breaking below the rising support line, currently around 154.00, would exert negative pressure on the price, targeting testing 152.80 areas before any new attempt to rise.

Expected Trading Range

Between the support at 154.00 and the resistance at 155.60

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price experienced further downward movement yesterday, testing the 1.2300$ level.
• Temporary bullish sentiment, influenced by RSI positivity, is observed, but the overall bearish trend is expected to resume, targeting 1.2265$.
• The EMA50 continues to support the bearish outlook, which remains valid unless the price breaches 1.2385$ and sustains trading above it.

Expected Trading Range

Between the support at 1.2270$ and the resistance at 1.2420$

EURUSD Price Analysis

Expected Scenario

• The EURUSD price remains around the 1.0650$ level, with stochastic gradually losing positive momentum and the EMA50 exerting negative pressure on the price.
• Therefore, the bearish outlook remains valid, awaiting a break below 1.0615$ to confirm a decline towards 1.0520$ as the next target. However, breaking above 1.0715$ would invalidate the downward trend and signal potential gains towards 1.0795$.

Expected Trading Range

Between the support at 1.0580$ and the resistance at 1.0725$