Forecast update for Gold -13-11-2026

The EURUSD pair declined in its latest intraday trading, breaking below the current support level of 1.1060. This came despite positive signals from the relative strength indicators after reaching deeply oversold levels, which failed to translate into an upward move, signaling the pair's underlying bearish momentum and potential for further declines in the near term, amid the dominance of the main short-term bearish trend.

The pair confirmed its shift to a bearish trend after recently breaking below the 0.9745 support level and posting negative closes, with trading currently fluctuating near 0.9685. Given the main indicators' negative momentum signals, we expect the price to continue forming bearish waves, targeting 0.9615 in the near term, followed by an attempt to test the initial support at 0.9580.

The pair's lack of positive momentum has led to some intraday bearish trading, with the price retesting the initial support level at 176.15 before holding above it, seeking to confirm its commitment to the bullish corrective scenario.