Gold price is showing calm movement in its recent intraday trading, remaining stable above the key resistance level of $4,800. The short-term trend is dominated by a bullish corrective movement, with price action moving along a supportive trendline. Positive pressure continues as the price trades above EMA50, reinforcing the strength of the current upward movement.

In the background, positive signals emerge from the relative strength indicators after reaching deeply oversold levels, which enhances the chances of a near-term recovery.

The EURUSD pair declined in its recent intraday trading, with the resistance level at 1.1790 holding firm against the pair’s upward attempts. At the same time, negative signals are emerging from the relative strength indicators, as the pair tries to gain positive momentum that could help it recover and break above this resistance. This comes amid continued dynamic support from trading above the EMA50, which strengthens the stability of the main short-term bullish trend.

The EURGBP formed some mixed waves in its last trading, to face the barrier at 0.8735 level, settling below it to reach the moving average of 55 near 0.8685.

Note that stochastic attempt to provide the negative momentum by reaching below 50 level will increase the chances of reaching below the moving average 55, to begin targeting several negative stations near 0.8650 and 0.8615, while breaching the barrier and holding above it will open the way for forming several bullish waves to target 0.8780 level initially.

The expected trading range for today is between 0.8670 and 0.8730

Trend forecast: Bearish

Natural gas price kept providing strong pressure on the support level at $2.620, attempting to find an exit for resuming the previously suggested negative attack, the continuation of providing negative momentum makes us wait for achieving the required break, to open the way for reaching extra negative stations that are located at $2.390 and $2.250 level.

The expected trading range for today is between $2.390 and $2.820

Trend forecast: Bearish