The USDCAD pair returned to rise after leaning on the key support base 1.2780, supported by the EMA50, to keep the bullish trend scenario valid and active for the upcoming period, waiting to test 1.2895 level initially, reminding you that breaching this level will push the price to 1.2945 as a next target.

Holding above 1.2780 is important to continue the expected rise, as breaking it will press on the price to resume the main bearish track again.

The expected trading range for today is between 1.2760 support and 1.2900 resistance.

The expected trend for today: Bullish

The USDJPY pair settles around 105.00 level, noticing that the price completed forming double bottom pattern that supports the chances of continuing the bullish trend within the intraday bullish channel that appears on the chart, to hint that the way is open to surpass our waited target at 105.20 and extend the bullish wave towards 106.00 followed by 106.44.

Therefore, the bullish trend scenario will remain valid and active on the intraday and short term basis conditioned by the price stability above 104.40.

The expected trading range for today is between 104.40 support and 105.70 resistance

The expected trend for today: Bullish

The GBPUSD pair continued to decline yesterday to reach the bullish channel’s support line, and begins to rebound bullishly from there, motivated by stochastic current positivity, waiting for more rise to resume the expected bullish trend on the intraday and short term basis, which its next target located at 1.3815.

Holding above 1.3650 is important to continue the expected rise, as breaking it will press on the price to start correctional bearish wave before turning back to rise again.

The expected trading range for today is between 1.3630 support and 1.3780 resistance.

The expected trend for today: Bullish

The EURUSD pair succeeded to touch our first target at 1.2064 and attempts to break it, but it faced solid support there to force the price to rebound bullishly and test a minor resistance formed at 1.2085, affected by stochastic positivity, waiting to get negative motive that supports the chances of bouncing bearishly to break the first level and open the way to extend the bearish wave towards 1.1976.

Therefore, we will keep our bearish overview for the upcoming period that gets continuous support by the EMA50 unless the price rallied to breach 1.2173 level and hold above it.

The expected trading range for today is between 1.2000 support and 1.2150 resistance.

The expected trend for today: Bearish