The USDCAD pair succeeded to touch our first waited target at 1.2688 and settles there now, waiting for more decline to surpass this level and open the way to head towards 1.2520 that represents our next target.

Therefore, the bearish trend will remain active supported by the EMA50, conditioned by the price stability below 1.2750.

The expected trading range for today is between 1.2620 support and 1.2750 resistance.

The expected trend for today: Bearish

The USDJPY pair opens today’s trading with clear rise to attack the resistance line that appears on the chart, which urges caution from the upcoming trading, as confirming the breach will push the price to achieve new gains that reach 105.20, while consolidating below it will press on the price to resume the main bearish trend that its next target located at 102.50.

Therefore, we prefer staying aside now until the price confirms its situation according to 104.05 level followed by detecting its next destination clearly.

The expected trading range for today is between 103.40 support and 104.70 resistance

The expected trend for today: Neutral

The GBPUSD pair found solid resistance at 1.3700 barrier, to trade negatively and approaches 1.3600 areas, noticing that stochastic gathers the positive momentum clearly, waiting to motivate the price to resume the bullish trend that its next target located at 1.3860.

Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.3590.

The expected trading range for today is between 1.3570 support and 1.3740 resistance.

The expected trend for today: Bullish

The EURUSD pair faced negative pressure yesterday formed by the EMA50, as the price found difficulty to surpass this barrier, to trade negatively and break 1.2173 and settles below it, which puts the price within the correctional bearish track again, on its way to test 1.2064 as a first target.

By taking a deeper look at the chart, we find that the price is drawing head and shoulders’ pattern that its signs shown in the image, thus, the chances will be valid to achieve more bearish correction on the short term basis, which its next target reaches 1.1975.

Therefore, the bearish trend will be expected for the upcoming sessions unless breaching 1.2173 followed by 1.2220 levels and holding above them.

The expected trading range for today is between 1.2050 support and 1.2220 resistance.

The expected trend for today: Bearish