The USDCAD pair provided clear negative trades yesterday, to move away from the intraday bearish channel’s resistance, reinforcing the expectations of continuing the main bearish trend, which its next target located at 1.2550.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 1.2800 and holding above it.

The expected trading range for today is between 1.2640 support and 1.2800 resistance.

The expected trend for today: Bearish

The USDJPY pair bounced downwards clearly yesterday to settle below the bearish trend resistance line, and the price still inside the sideways track that appears on the chart, confined between 103.65 support and 104.76 resistance, to continue suggesting the sideways move on the intraday basis until breaching one of these levels to detect the next targets clearly.

We remind you that breaking the mentioned support will push the price to continue the main bearish trend that targets 103.00 areas initially, while breaching the resistance will lead the price to achieve positive targets that start at 105.20 followed by 106.00.

The expected trading range for today is between 103.40 support and 104.75 resistance

The expected trend for today: Sideways

The GBPUSD pair recorded 1.3245 level as yesterday’s low, as we notice that the decline stopped at the intraday bullish channel’s support line that appears on the chart, which meets 38.2% Fibonacci correction level measured from 1.2838 to 1.3539, which hints that the price is on its way to build new bullish wave in the upcoming sessions, to head towards resuming the main bullish track again.

Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, which its targets begin by surpassing 1.3373 to confirm opening the way to visit the recently recorded top at 1.3539 as a next positive station, taking into consideration that breaking 1.3270 and holding below it will stop the expected rise and press on the price to achieve more intraday bearish correction.

The expected trading range for today is between 1.3240 support and 1.3420 resistance.

The expected trend for today: Bullish

The EURUSD pair succeeded to breach the bullish flag’s resistance represented by the minor bearish channel that appears on the chart, to get good positive motive that supports the expectations of continuing the bullish trend on the intraday and short term basis, opening the way to rally towards our next station at 1.2300.

Therefore, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50, noting that breaking 1.2135 represents initial condition to continue the suggested rise, as breaking it will put the price under intraday negative pressure that might push trades to 1.2040 areas before any new attempt to rise.

The expected trading range for today is between 1.2100 support and 1.2260 resistance.

The expected trend for today: Bullish