The USDCAD pair showed temporary rise yesterday but it declined strongly to reach 1.2300 barrier, noticing that the price begins today positively to settle above 1.2365 level again, facing contradicted technical factors, represented by stochastic positivity and the EMA50 negativity.

Therefore, we prefer to stay aside now until the price confirms its situation according to 1.2365 level, noting that holding above it will push the price to achieve intraday gains that target testing 1.2475 mainly, while trading below it will put the price under new negative pressure that its targets begin by visiting 1.2230 areas.

The expected trading range for today is between 1.2320 support and 1.2440 resistance.

The expected trend for today: Neutral

The USDCHF pair provided negative trades to move away from 0.9200, to activate the bearish trend scenario again, on its way to visit 0.9140 as a first negative station, noting that breaking this level will push the price to 0.9060 as a next target.

The EMA50 supports the expected decline, which will remain valid unless breaching 0.9200 and holding above it.

The expected trading range for today is between 0.9140 support and 0.9210 resistance.

The expected trend for today: Bearish

The USDJPY pair faced negative pressure to break the bullish channel’s support line and tests the key support 113.40, which represents 23.6% Fibonacci correction level for the rise measured from 109.12 to 114.70, and by taking a deeper look at the chart, we find that the price forms double top pattern that its confirmation line is located at the mentioned support, thus, breaking this level will push the price to achieve intraday bearish correction that targets testing 112.56 as a next main station.

Therefore, we expect to witness negative trades in the upcoming sessions, taking into consideration that breaching 114.20 will stop the suggested negative scenario and lead the price to regain the bullish trend again.

The expected trading range for today is between 113.00 support and 114.00 resistance

The expected trend for today: Bearish

The GBPUSD pair tested the key support 1.3720 and kept its stability above it, to start today with bullish bias in attempt to move away from this level, which keeps the bullish trend scenario valid on the intraday basis, waiting to test 1.3795 initially, which breaching it represents the key to rally towards 1.3910 as a next station.

Breaching 1.3750 will ease the mission of achieving the expected rise, while breaking 1.3720 will push the price to achieve new decline that targets testing 1.3665 before any new attempt to rise.

The expected trading range for today is between 1.3680 support and 1.3840 resistance.

The expected trend for today: Bullish