The USDCAD pair succeeded to touch our waited target at 1.2480 and presses negatively on it, to support the chances of extending the correctional bearish wave, noting that breaking this level will push the price to visit 1.2370 direct.

Therefore, we expect the continuation of the bearish bias in the upcoming sessions supported by the negative pressure formed by the EMA50, taking into consideration that the consolidation of 1.2480 level against the current negative pressure might push the price to test 1.2590 areas before any new attempt to decline.

The expected trading range for today is between 1.2410 support and 1.2550 resistance.

The expected trend for today: Bearish

The USDJPY pair rallied upwards strongly by today’s open to breach 122.40 and open the way to resume the main bullish trend, to head towards achieving more gains on the intraday and short term basis, on its way to visit 124.00 as a next main station.

Therefore, we expect to witness more rise in the upcoming sessions unless breaking 122.40 and holding below it.

The expected trading range for today is between 122.40 support and 123.60 resistance

The expected trend for today: Bullish

The GBPUSD pair couldn’t manage to hold for long time above 1.3175, to press on the key support 1.3145 now, which makes us prefer to stay neutral temporarily until we get clearer signal for the next trend, which we will get through breaking this support or breaching 1.3235 resistance.

Note that breaching the mentioned resistance will push the price to resume the correctional bullish track that its next target located at 1.3310, while breaking the support will press on the price to return to the main bearish trend and head towards 1.3000 mainly.

The expected trading range for today is between 1.3060 support and 1.3240 resistance.

The expected trend for today: Neutral

The EURUSD pair opened today negatively to break the intraday bullish trend line and settles below it, which stops the positive scenario suggested on last Friday and lead the price to resume the bearish trend again, on its way to achieve negative targets that start at 1.0920 and extend to 1.0775 after breaking the previous level.

Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1.1010 will stop the expected decline and push the price to attempt to recover again.

The expected trading range for today is between 1.0860 support and 1.1020 resistance.

The expected trend for today: Bearish