Copper price confirmed its affection by the suggested bearish bias domination, by providing new closes below the barrier at $4.9100, to notice by the above image its approach from the initial correctional target at $4.7700.

The continuation of the current barrier stability and stochastic exit from the overbought level will increase the negative pressures on the current period trading, to keep our bearish scenario valid, to expect surpassing the initial target then attempting to press on 50%Fibonacci correction level at $4.6600.

The expected trading range for today is between $4.6900 and $4.8400

Trend forecast: Bearish

The EURUSD settled bearishly in its recent intraday trading, affected by the technical formation negativity, which was formed previously on the short- term basis, represented by the rising wedge pattern, which causes correctional pressures on the price.

The continuation of the trading below EMA50, besides the emergence of weakness signals from the (RSI), after offloading some of the exaggerated oversold conditions, increase the continuation of the negative scenario.

The GBPUSD rose in its last intraday trading, amid the price attempts to form rising low that might form a technical support base that help it to regain the required positive momentum to complete its bullish track.

This rebound is supported by the price lean on the EMA50, which reinforces the chances for recovery, besides the continuation of the dominant bullish trend on a short-term basis.

The USDJPY price declined slightly in its last intraday trading, in a correctional move to catch its breath and gather gains after the consecutive losses, where the price attempts to gain new positive momentum that supports resuming the bullish correctional trend.

This decline came from the price affection by its exit from minor bearish channel that limits its movement on the short-term basis, with the continuation of the positive signals emergence on the (RSI), despite reaching overbought levels.