Forecast update for Gold -04-07-2025
AI Summary
- Gold price remains stable above support level of $3,330
- Positive pressure from trading above EMA50 and emergence of positive signals on RSI
- Technical outlook remains valid due to low liquidity in global markets from US Independence Day holiday
Calm moves in (Gold) price in its last intraday trading, settled above the support level of $3,330, taking advantage of the positive pressure that comes from its trading above EMA50, amid its affection by its exit for bearish correctional channel’s range that limited its previous trading on the short-term basis, besides the emergence of the positive signals on the (RSI), after reaching oversold levels.
Due to low liquidity in global markets that comes from the Independence Day holiday in the United States, the same technical outlook from the morning analysis remains valid.
The CADCHF achieves the target– Forecast today – 4-7-2025
The CADCHF continued the negative attack by its last trading, to achieve the previously waited target at 0.5785 level to represent a strong support due to the stability of 100% Fibonacci extended level near it.
All that besides the stability of the support level make us expect activating the attempts of reducing the losses by forming several bullish correctional waves, to target 0.5910 level reaching 0.5965 level.
The expected trading range for today is between 0.5810 and 0.5910
Trend forecast: Bullish
Natural gas price faces the negative pressure– Forecast today – 4-7-2025
Despite the continuation of the negative pressure on the Natural gas price that comes from stochastic fluctuation near 20 level, besides the stability of the moving average 55 above , its fluctuation near the support base of $3.450 assists to reduce the negative effect on the current trading.
Gathering the positive momentum is important to provide chances for forming some bullish waves, that let it step above the $3,600 level, then begin achieving some gains by its rally to $3.710 and $3.830.
The expected trading range for today is between $3.400 and $3.600
Trend forecast: Bullish
The EURJPY attacks the resistance – Forecast today – 4-7-2025
The EURJPY pair formed a new bullish attack, taking advantage of the repeated positive pressure, to attack the resistance of the bullish channel’s resistance at 170.60, achieving the suggested target in the previous report.
The price might be forced to provide mixed trading due to the strength of the current resistance besides stochastic attempt to exit the overbought level, to increase the chances of activating the attempts of gathering the gains by targeting 169.20 and 168.60 level, while breaching the resistance and holding above it will open the way for recording new gains that might extend to 171.10 and 171.60.
The expected trading range for today is between 169.20 and 170.60
Trend forecast: Fluctuated within the bullish track