Forecast update for Gold -08-06-2026

The EURUSD pair fluctuated in its last intraday trading, with the beginning of the positive signals from the relative strength indicators, after reaching oversold levels, attempting to offload some of this oversold conditions, amid the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on the short-term basis.

Despite EURGBP’s affection by some positive pressures, its stability below the resistance of the minor bearish channel at 0.8660 supports the chances of renewing the bearish trend in the near and medium period, gaining negative momentum will ease the mission of reaching 0.8610 initially, and surpassing this barrier will extend the trading towards 0.8580 and 0.8565 directly.

Natural gas price loses its bullish momentum by stochastic exit from the overbought level, which forces it to settle again below the moving average 55, which forced it to form strong obstacle near $3.350, forcing it to delay the bullish trend and holding again near the initial support at $3.150 level.