We are still short on the US Dollar

USD/CHF

The USDCHF pair showed positive trading yesterday to test the EMA50, which continues to form strong resistance barrier against the price positive attempts, which keeps the bearish trend scenario valid until now, reinforced by stochastic reach to the overbought areas thresholds now.

The price needs to break 0.9525 followed by 0.9474 levels to confirm opening the way to head towards 0.9243 that represents the next main target of the current bearish wave, taking into consideration that breaching 0.9580 followed by 0.9676 levels will turn the intraday and short term track to the upside.

Expected trading range for today is between 0.9450 support and 0.9620 resistance.

Expected trend for today: Bearish

NZD/USD

The NZDUSD pair rallied bullishly yesterday after it kept its stability above 0.6860 level, as it gets strong positive motive offered by stochastic, reinforcing the expectations of more rise in the upcoming period, waiting to test 0.7040 level as a next main station.

Therefore, we believe that the chances are valid to achieve more gains on the intraday and short term basis, to extend the positive targets towards 0.7330, while the price needs to hold above 0.6860 level to keep the chances of continuing the suggested positive expectations.

Expected trading range for today is between 0.6860 support and 0.7070

Expected trend for today: Bullish

AUD/USD

The AUDUSD pair traded with clear positivity yesterday to begin testing 0.7700 barrier now, approaching from our first main target at 0.7760, waiting to breach this level to open the way to visit the main bearish channel’s resistance at 0.8010.

Stochastic and the EMA50 continue to offer the positive signals that support the expected rise, which its continuation conditions holding above 0.7515 and 0.7415 levels.

Expected trading range for today is between 0.7600 support and 0.7800

Expected trend for today: Bullish

USD/CAD

The USDCAD pair succeeded to reach our main waited target at 1.2825, and broke this level strongly yesterday to close the daily candlestick below it, which confirms the continuation of the expected bearish trend on the intraday and short term basis, opening the way to head towards our extended target located at 1.2520.

Therefore, our bearish trend overview will remain valid efficiently for the upcoming sessions, supported by the negative pressure offered by the EMA50, noting that breaching 1.2825 level might push the price to test 1.3080 areas before any new attempt to decline.

Expected trading range for today is between 1.2650 support and 1.2825 resistance.

Expected trend for today: Bearish

GOLD

Gold price shows sideways trading since yesterday keeping its stability above 1250.00 barrier, noticing that stochastic gets rid of its negativity and reach the oversold areas, which offers positive factor that we expect to assist to push the price to resume the short term bullish trend, which gets positive support by the EMA50.

Therefore, we believe that the chances are valid to head towards 1282.92 followed by 1300.00 levels as first main targets, taking into consideration that breaking 1227.40 level will stop the expected rise and push the price to test 1193.00 areas before any new attempt to resume the bullish trend.

Expected trading range for today is between 1235.00 support and 1280.00 resistance.

Expected trend for today: Bullish

Silver 

Silver price kept its positive trading yesterday to approach from our main waited target at 16.35, showing some slight bearish bias now affected by stochastic negativity, while the EMA50 keeps pushing the price from below.

Therefore, we will keep our bullish trend overview for the upcoming period as long as the price is above 15.30 level, noting that breaching 16.35 level will extend silver price gains to reach to 17.08 as a next main station.

Expected trading range for today is between 15.70 support and 16.50 resistance.

Expected trend for today: Bullish