The USDCAD price fluctuated within tight range yesterday, waiting to gather positive momentum that assist to push the price to resume the bullish wave that its targets begin by turning back to the bullish channel that appears on the chart through breaching 1.4120$ to ease the mission of heading towards the recently recorded high at 1.4178$.

Therefore, the bullish trend will remain valid for the upcoming period unless breaking 1.4000$ and holding below it.

The expected trading range for today is between 1.4020$ support and 1.4150$ resistance

Trend forecast: Bullish

The USDJPY price rallied upwards to breach 150.20 level and settle above it, to hint the attempt to stop the bearish correction and return to the main bullish track again, but it found solid resistance formed by the EMA50 at 151.20, to trade at the first level and press negatively on it.

Now, we are facing contradiction between the technical factors that makes us stay aside until we get clearer signal for the next trend, noting that breaching 151.20 resistance will push the price to achieve more gains and target 152.70 areas mainly, while breaking 150.20 support will push the price to resume the correctional bearish wave and head towards 149.15 followed by 148.16 levels as next negative stations.

The expected trading range for today is between 149.40 support and 151.20 resistance

Trend forecast: Neutral

The GBPUSD price traded with clear positivity yesterday to breach the bearish channel’s resistance line and approach the key resistance 1.2735$, to place lower high than the recently recorded high at 1.2750$ and keep the chances to form double top pattern that we expect to assist to push the price to achieve negative targets that surpass 1.2566$ to reach 1.2525$.

Therefore, we will keep our bearish overview for the upcoming period, noting that breaching 1.2735$ will push the price to achieve more gains and build bullish wave that targets 1.2866$ areas on the near-term basis.

The expected trading range for today is between 1.2620$ support and 1.2780$ resistance

Trend forecast: Bearish

The EURUSD price finds solid support at 1.0475$ level, to show some slight bullish bias, waiting to get negative motive that assist to push the price to break this level and open the way to resume the bearish wave that its next target located at 1.0400$.

The EMA50 forms negative pressure against the price to support the expectations to decline, besides the negative signal provided by stochastic now, noting that breaching 1.0563$ will stop the bearish wave and push the price to achieve additional bullish correction that its next target located at 1.0634$.

The expected trading range for today is between 1.0440$ support and 1.0590$ resistance

Trend forecast: Bullish