The USDJPY pair bounced upwards strongly after leaning on the bullish channel’s support line that appears on the chart, as the EMA50 met this support to add more strength to it, reaching 137.70 level now, and we suggest surpassing this level to open the way to achieve more gains that reach 139.25 as a next main station.

Therefore, we expect to witness more bullish bias in the upcoming sessions, it might be preceded by some sideways fluctuation affected by stochastic negativity, waiting to get positive momentum that assists to push the price to achieve the waited targets.

We need to take into consideration that failing to breach 137.70 will press on the price to rebound bearishly and head to test 135.90 areas initially before any new attempt to rise.

The expected trading range for today is between 137.00 support and 138.60 resistance

The expected trend for today: Bullish

The GBPUSD pair broke 1.1940 strongly to reach 1.1800 areas now, as it returns to the correctional bearish track and head towards achieving more expected decline on the intraday and short term basis, noting that our next target reaches 1.1625.

Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions, supported by the negative pressure formed by the EMA50, while stochastic current positivity might cause some temporary sideways fluctuation before resuming the expected decline.

On the other hand, we should note that breaching 1.1940 will stop the current negative pressure and lead the price to start new recovery attempts.

The expected trading range for today is between 1.1720 support and 1.1890 resistance.

The expected trend for today: Bearish

The EURUSD pair was affected by the Federal Reserve president statements that hinted more expected rise to the US dollar interest rate, to continue declining and approach the expected negative target at 1.0515, falling under more negative pressure that makes us suggest surpassing the mentioned level to open the way to achieve additional negative targets that reach 1.0440.

The EMA50 forms negative pressure against the price to support the continuation of the expected decline, noticing that the price is affected by the bearish flag pattern that was completed after breaking the minor bullish channel’s support line that appears on the chart.

Therefore, the bearish bias will be expected for the upcoming sessions, and surpassing the suggested target will push the price to continue the decline towards 1.0285 areas, while the continuation of the bearish wave depends on the price stability below 1.0625.

The expected trading range for today is between 1.0440 support and 1.0600 resistance.

The expected trend for today: Bearish

Gold price declined strongly to break 1828.70 level and attempts to hold below it, to cancel the positive formation mentioned in our recent reports and head towards achieving more expected bearish correction in the upcoming sessions, noting that closing the day below the mentioned level will push the price towards 1788.20 as a main negative target.