The price of (Gold) declined in its last intraday trading, attempting to gain a positive momentum that might help it to recover and rise again, while it succeeded in offloading the clear overbought conditions on the (RSI), opening the way for achieving more of the gains on the short-term basis, amid the dominance of strong minor bullish wave, supported by positive support due to its trading above EMA50, reinforcing the stability of this scenario.
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The price of (EURUSD) declined in its last intraday trading, due to the stability of the key resistance level at 1.1575, with the emergence of the negative signals on the (RSI), with a continued negative pressure due to its trading below EMA50, to attempt to gain positive momentum that might assist it to get rid of the negative pressure. This scenario is supported by the (RSI) reach to oversold levels, which suggest ending the attempts to gain this positive momentum soon.
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The GBPCHF price formed some bullish correctional trading, to approach from the moving average of 55 near 1.0765, taking advantage of providing positive momentum by stochastic, to retest an important barrier again.
The main stability within the bearish channel’s levels, which forms an extension for the main resistance at 1.0810 level besides forming an extra barrier at 1.0775 level, these factors make us wait for gathering the negative momentum, which allows it to renew the negative attempts that might target 1.0710 and 1.0660.
The expected trading range for today is between 1.0770 and 1.0710
Trend forecast: Bearish
Natural gas price activated with the negativity of the main indicators to break the neckline of the head and shoulders pattern at $3.050, to open the way for activating the suggested bearish track by its fluctuation near $2.950.
The continuation of providing negative momentum by the main indicators will reinforce the chances of confirming breaking the previously mentioned neckline, which makes us prefer targeting several negative stations that might begin at $2.710 reaching extra support at $2.390.
The expected trading range for today is between $2.710 and $3.050
Trend forecast: Bearish