The price of (Gold) declined on its last intraday trading, due to the stability of the main resistance level at $3,400, attempting to gain positive momentum that might assist it to recover and breach this resistance, after offloading its overbought conditions on the (RSI), and under strong minor bullish wave.
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The price of (EURUSD) rose in its last intraday trading, amid its continued attempts to gain positive momentum that might assist its recovery and breaching the stubborn resistance at 1.1670, this resistance prevents the recovery in the intraday levels, amid the dominance of minor bullish wave on the short-term basis, with the beginning of the positive signals on the (RSI), besides the continuation of the dynamic support that comes from its trading above EMA50, representing a dynamic support that expands the positive momentum.
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The CADCHF price confirmed surpassing the negative pressure by providing several positive closes above the support of 0.5775 level recently, activating with stochastic positivity and its rally to 0.5885, approaching the initial barrier at 0.5910.
Stochastic rally above 50 level makes us expect to breach the mentioned barrier, to resume the bullish attack by reaching 0.5965 followed by the next resistance at 0.6022.
The expected trading range for today is between 0.5830 and 0.5965
Trend forecast: Bullish
Despite the stability of the EURJPY pair above 170.45 level, the repeated fluctuation below the extra barrier at172.00 decelerates the chances of achieving new gains until this moment, reaching its fluctuation in sideways range near 171.85.
The price might be forced to provide sideways trading, but the continuation of providing positive momentum by the main indicators will reinforce the chances of surpassing the mentioned obstacle, opening the way for achieving clear gains by its rally to 172.65 and 173.80.
The expected trading range for today is between 171.20 and 172.65
Trend forecast: Bullish