Gold price witnessed weak and cautious gains in its recent intraday trading, attempting to recover some of the clear oversold levels on the relative strength indicators, especially with the emergence of positive overlapping signals, amid the continuation of the negative pressure that comes from its trading below EMA50, which represents a dynamic resistance that reduces the chances of full recovery in the near upcoming period, especially with the trading alongside a main bearish trend line on the short-term basis.

The EURUSD pair settles on a decline in its last intraday trading, amid the dominance of the bearish trend on the short-term basis, with its trading alongside supportive minor trend line, with the continuation of the negative pressure due to its trading below EMA50, reinforcing the negative pressure on the pair, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels.

The GBPCAD ended the last bullish rally by facing strong barrier near1.8670, obstructing the chances of recording any extra gains, forming sideways fluctuation by its stability near 1.8640.

The stability below the current barrier might increase the chances of activating the bearish corrective trend, to begin targeting some bearish stations by reaching 1.8570 followed by the extra support near 1.8510, while activating the bullish trend requires a strong bullish rally to settle above 1.8690 level.

The expected trading range for today is between 1.8570 and 1.8670

Trend forecast: Bearish

The EURJPY pair faces difficulty in resuming the bullish attempts by forming a new obstacle at 186.00 level, to form some sideways trading by its stability near 185.85 affected by stochastic exit from the overbought levels.

Reminding you that the continuation of forming extra support at 184.85 level supports the chances of activating the bullish trend in the near period, therefore, we will keep waiting for confirming breaching 186.00 level, to ease the mission of recording extra gains that might extend to 186.65 and 187.10. 

The expected trading range for today is between 185.40 and 186.65

Trend forecast: Bullish