Gold declined in its recent intraday trading, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to recover and rise again, the price managed to offload its overbought conditions on the relative strength indicators, with the emergence of the negative signals and entering exaggerated oversold levels compared to the price move, amid the continuation of the dynamic pressure that is represented by its trading above EMA50, reinforcing the stability of bullish corrective wave on short-term basis.

The EURUSD pair declined during its latest intraday trading, with the emergence of the negative signals from the relative strength indicators, to complete the attempts of gaining bullish momentum that might help it to recover and rise again, especially with the relative indicators reaching oversold levels, exaggeratedly compared to the price move, forming a new bullish momentum, amid the dominance of main and minor trend line that support this path. 

The GBPCAD confirmed regaining the bullish track by providing several positive closes above the bullish channel’s support at 1.8560, activating with the main indicators’ positivity and recording clear gains by reaching 1.8690.

No escape from resuming the bullish track, providing positive momentum makes us expect to begin targeting new positive stations that might begin at 1.8745 and 1.8810.

The expected trading range for today is between 1.8650 and 1.8745

Trend forecast: Bullish

The EURJPY pair was forced to provide intraday sideways trading, affected by forming extra barrier at 187.50 level against the bullish attempts, fluctuating near 187.20 level, the price needs a new bullish momentum to ease the mission of surpassing the current barrier and begin recording extra gains by its rally towards 187.75 and 188.35.

While the failure of the breach might force the price to form temporary corrective trading, to begin gathering some gains by reaching 186.55 followed by the extra support near 185.85.

The expected trading range for today is between 186.80 and 187.75

Trend forecast: Bullish