USDCAD Price Analysis

Expected Scenario

• The USDCAD price achieved more decline on last Friday to reach the thresholds of the waited target at 1.3590$, noticing that the price shows some temporary bullish bias, so stochastic loses its positive momentum and reaches the overbought areas, waiting to motivate the price to resume the correctional bearish trend, which its next target reaches 1.3515$.
• Therefore, we will continue to suggest the bearish trend for the upcoming period, affected by the formation of the double top pattern that its signs appear on the chart, noting that holding below 1.3690$ represents major condition to achieve the waited targets.

Expected Trading Range

Between 1.3560$ support and 1.3700$ resistance.

USDJPY Price Analysis

Expected Scenario

• The USDJPY price shows more bearish bias to reach the first target at 160.20$, and by taking a deeper look at the chart, we find that the price completes head and shoulders’ pattern now that we expect to push the price to achieve more bearish correction in the upcoming sessions, waiting to break the mentioned level to open the way to visit 159.10$ as a next negative station.
• Therefore, we expect to witness additional negative trades on the intraday basis, noting that the consolidation of 160.20 against the current negative pressure and bouncing bullishly to breach 160.70 will stop the expected decline and push the price to return to the main bullish trend again.

Expected Trading Range

Between 159.50$ support and 160.90$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price managed to achieve our waited target at 1.2800$ and breaches it now to attempt to hold above it, reinforcing the expectations of continuing the bullish trend domination, which its next target reaches 1.2890$.
• The EMA50 continues to support the suggested bullish wave, and holding above 1.2800$ represents initial condition to the continuation of the expected rise, as breaking it might push the price to decline and test the key support 1.2700$ before any new attempt to rise.

Expected Trading Range

Between 1.2750$ support and 1.2890$ resistance.

EURUSD Price Analysis

Expected Scenario

• The EURUSD price succeeded to achieve our waited target at 1.0840$ by the end of last Friday, noticing that the price opened today with bearish gap that it covers it now, to hint heading to achieve more expected rise in the upcoming sessions, waiting to breach the mentioned level to open the way to head towards 1.0915$ as a next main target.
• Therefore, we will continue to suggest the bullish trend on the intraday basis, noting that breaking 1.0760$ will stop the expected rise and push the price to turn to decline.

Expected Trading Range

Between 1.0760$ support and 1.0910$ resistance.