The price of (Gold) declined in its last intraday trading, gather the gains of its previous rises, and attempts to offload some of its clear overbought level on the (RSI), especially with the emergence of the negative signals, in a natural technical correctional move to gather the required positive momentum to recover and resume its rise again, amid the dominance of the main bullish trend on the short-term basis and its trading alongside minor and main bias lines that support this track.
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The price of (EURUSD) extended its rise in its last intraday trading, reaching our morning target at the key resistance of 1.1730, taking advantage of the dynamic support that is represented by its trading above EMA50, with its trading alongside a bullish correctional trend line on the short-term basis, on the other hand, we notice the emergence of negative overlapping signals on the (RSI), after reaching overbought levels, forming an obstacle against the continuation of the rise on the intraday basis, pushing for some correctional rebounds, to target offloading these overbought conditions.
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The GBPAUD failed to breach 2.1020 barrier, forcing it to form new bearish correctional waves, to settle near the moving average 55 at 2.0620.
Despite the stability of the price within the bullish channel levels, the attempt of forming extra barrier at 2.0745 level by the continuation of providing negative momentum, these factors confirm the dominance of the bearish correctional bias, targeting 2.0560 level reaching extra support near 2.0483.
The expected trading range for today is between 2.0710 and 2.0560
Trend forecast: Bearish
Natural gas price continued forming bullish correctional trading, to test the neckline of the head and shoulders pattern by reaching $3.050, but it will not affect the main bearish track, depending on the resistance at $3.170.
Stochastic reach to the overbought level confirms surpassing the positive pressure, increasing the chances for gaining the required negative momentum, to activate the negative attempts to reach $2.850, to repeat the pressure on $2.650 barrier.
The expected trading range for today is between $2.850 and $3.100
Trend forecast: Bearish