The price of gold (GOLD) witnessed fluctuated trading on its last intraday levels, amid its attempts to gain bullish momentum that might help it to recover and resume its gains and record new all-time highs on the near-term basis, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line, and the relative strength indicators reached exaggerated oversold levels compared to the price move, which suggest the beginning of forming positive divergence.

The price of (EURUSD) rose in its last intraday trading, due to the stability of the current support level at 1.1665, attempting to recover some of its previous losses, and offloading some of its clear oversold conditions on the relative strength indicators, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability of the bearish corrective track on the short-term basis, especially with the trading within channel’s range.

The EURGBP confirmed its surrender to the bearish bias dominance by moving away from 0.8735 level, forming several bearish waves, to press on the initial support at 0.8650, forming the previously waited initial target.

The stability of the moving average 55 above the current trading increases the chances of gathering the required extra negative momentum for breaking the current support, to open the way for targeting new bearish stations that might extend towards 0.8630 and 0.8600.

The expected trading range for today is between 0.8600 and 9.8670

Trend forecast: Bearish

The EURJPY pair succeeded in surpassing 184.70 level, which forms the bullish channel’s support, to confirm regaining the bullish trend, to begin recording some gains by reaching 185.25 level, approaching the previously suggested initial main target.

Providing a new close above the bullish channel’s support is required to activate with the main indicators positivity, by surpassing 185.40 level and begin targeting new bullish stations by its rally towards 185.65 and 185.95.

The expected trading range for today is between 184.80 and 185.95

Trend forecast: Bullish