Gold rose during recent intraday trading, reaching $4,700 key resistance, which represented potential target in our previous analysis, taking advantage of bullish corrective wave dominance on short-term basis, with its trading alongside supportive trend line for this path, besides the continuation of the positive pressure due to its trading above EMA50, this rise came despite the emergence of positive signals from the relative strength indicators, after reaching overbought levels, as a clear positive signals for its bullish momentum.

The EURUSD pair kept rising during its recent intraday trading, supported by its trading above EMA50, providing dynamic support that helped it to breach minor bearish trend line on the short-term basis, gaining positive momentum that led it to expand its gains, despite the emergence of the negative signals from the relative strength, after reaching overbought levels, indicating strong dominance for the positive action.

Coffee price failed in its last trading by breaching 316.40 level, forcing it to form bearish corrective waves, to settle before 297.00.

Despite the contradiction between the main indicators, the main stability above the main support at 276.00 supports the continuation of the positive trading in the upcoming period, therefore, we will keep waiting for gathering positive momentum to ease its rally towards 307.80, then repeating the attempts of pressing on the previously mentioned barrier to find an exit for recording extra gains in the upcoming period.

The expected trading range for today is between 290.00 and 307.80

Trend forecast: Bullish

The EURJPY pair attempted to benefit from the contradiction of the main indicators by delaying the negative attack, to notice forming bullish waves by reaching 183.80 level, however it will not affect the negative scenario, depending on forming main barrier at 184.20 level.

Therefore, we will keep waiting for extra negative momentum that allows it to renew the pressure on 182.70, if it confirms breaking this level will begin targeting new bearish stations that might extend to 182.10 and 181.50.

The expected trading range for today is between 182.20 and 183.90

Trend forecast: Bearish