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• EURUSD

Update: The pair managed to form a bearish candle which is (Bearish Engulfing). Since this pattern has appeared below the upside of the ascending channel, this supports the downside scenario.Above the current price of the pair we can find two strong resistance levels which are: The upside of the ascending channel and the downtrend line (that acts as a resistance level in our case). It is a good catch if the pair manages to go up again to reach those two levels then if it shows some negative factors, we may go short targeting the level of 1.0800. There are no exact prices to enter the market in this scenario. But rather we have areas that are very bearish (two levels mentioned above). We believe that these levels can take traders’ attention so let’s keep an eye on them and see what will happen?

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• GBPUSD

Update: Yesterday’s candle was bearish but there is no clear signal for a bearish movement. Therefore, we remain bearish as long as the upside of the ascending channel is respected. The pair is traded below the upside of the ascending channel shown on the chart so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2800 during the week.

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• GOLD

Update: A very tight movement could be seen on the Gold so we remain the same. A retest is expected for the level of 1220. As could be seen on the chart above that the pair may continue going up to reach the level of 1220 then a rebound is expected in case it shows some negative factors that it may go down again to reach the level of 1210.

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• AUDUSD

The pair managed to break through the level of 0.7400 so this would open the door for the pair for further downward movement during the day that it may reach the level of 0.7300. This is conditioned by the continuation of trading below the level of 0.7400.

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• USDCAD

Update: A very tight movement since yesterday, so we remain the same. As we mentioned last week that the pair has been traded below a strong resistance level around 1.3840 and this helped the CAD to gain value against the American Dollar that it reached the level of 1.3600. So we believe that the level of 1.3600 is a good bullish area where we can go long targeting the level of 1.3840 again.