The USDCAD price hovers around 1.3690$ level and keeps its stability below it until now, noticing that stochastic loses the positive momentum again, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which its targets begin by testing 1.3590$.

Note that breaking the targeted level will complete forming negative pattern that has negative targets that extend to reach 1.3435$ areas, while on the other hand, we should note that breaching 1.3690$ and holding above it will stop the negative scenario and lead the price to regain the bullish trend again.

The expected trading range for today is between 1.3600$ support and 1.3740$ resistance.

Trend forecast: Bearish

The USDJPY price bounced downwards strongly after failing to return to the bullish channel that appears on the chart, to break 156.82 level strongly and settle below it, opening the way to achieve more bearish correction on the intraday and short-term basis, to head towards visiting 153.65 areas as a next main station.

Therefore, the bearish bias will be expected for today, supported by the negative pressure formed by the EMA50, noting that breaching 156.82 will stop the current negative pressure and lead the price to start new recovery attempts.

The expected trading range for today is between 155.40 support and 157.00 resistance

Trend forecast: Bearish

The GBPUSD price attempted to breach the bullish channel’s resistance but it found solid barrier there, to show some temporary bearish bias, affected by the RSI negativity, waiting to resume the positive trades that target 1.3140$ as a next main station.

The EMA50 supports the suggested bullish wave, noting that breaking 1.2960$ followed by 1.2890$ levels will stop the expected rise and push the price to decline and target the bullish channel’s support line before any new attempt to rise.

The expected trading range for today is between 1.2940$ support and 1.3090$ resistance.

Trend forecast: Bullish

The EURUSD price settles above 1.0900$ barrier, waiting to continue the rise within the bullish channel that appears on the chart to head towards our next main target at 1.1000$.

Stochastic current negativity is causing temporary sideways fluctuation, waiting to gather positive momentum that assist to push the price to resume the expected bullish wave for the upcoming period, noting that breaking 1.0895$ will push the price out of the mentioned bullish channel to start bearish correction for the bullish wave that started from 1.0665$ areas.

The expected trading range for today is between 1.0870$ support and 1.1020$ resistance.

Trend forecast: Bullish

Read more: What is the future of the Euro?