Gold rose in its recent intraday trading, benefiting from positive and dynamic support represented by its trading above EMA50, which reinforces the dominance of a strong bullish corrective wave in the short term, imposing a positive trend on price movement during the previous period, especially with the emergence of positive signals from the relative strength indicators after forming a positive divergence after reaching oversold areas compared to price movement and the beginning of the positive signals emergence from it.

The (EURUSD) rose during its latest intraday trading, following the stability of the key support level at 1.1575, providing positive momentum that helped the pair to achieve those gains, especially with the beginning of a positive divergence in the relative strength indicators after they reached areas of extreme oversold conditions, with positive signals emergence from them, amidst the continuation of dynamic support represented by trading EMA50, affected by the breach of a short-term bearish trendline.

Despite the weakness of GBPAUD’s last trading, its stability above the main support at 1.8930 represents a main factor for confirming the suggested bullish scenario, to begin forming some bullish waves and its stability near 1.9010.

The main indicators’ contradiction by providing negative momentum, which might push the price to provide intraday mixed trading until breaching 1.9060 barrier, to confirm its readiness to target new positive stations by its rally towards 1.9140 and 1.9180. 

The expected trading range for today is between 1.8950 and 1.9060

Trend forecast: Bullish

The EURJPY pair attempted to activate the bullish trend by its rally towards 186.00 yesterday, however the bullish momentum pushed the price to return below 185.80 barrier, delaying the bullish trend and holding near 185.40.

The current fluctuation will not affect the chances of confirming the bullish scenario due to the stability above 184.20 support, which makes us wait for a confirmation for breaching the previously mentioned barrier, to increase the chances of recording new gains by its rally towards 186.65 initially, reaching the next target at 187.40.

The expected trading range for today is between 185.00 and 186.65

Trend forecast: Bullish