Gold price settles lower in its recent intraday trading, after reaching our morning target at $4,300 support, gaining some bullish momentum that attempts to recover some of its previous losses, and offloading its clear oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from there, amid the dominance of the main bearish trend on the short-term basis.

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.

While the risk of changing the trend and beginning bullish trend requires forming string bullish waves, to settle above 0.8685 level. 

The expected trading range for today is between 0.8610 and 0.8660

Trend forecast: Bearish

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.

Note that facing negative pressures might force it to activate the negative trend in the near trading, forcing it to suffer extra losses by reaching $2.950 and $2.800 before any attempt for recording the previously waited targets.

The expected trading range for today is between $2.950 and $3.300

Trend forecast: Bearish