Gold settles on a decline in its last intraday trading, amid the emergence of negative signals from the relative strength indicators, despite reaching oversold level, with the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line for this path, besides a negative pressure due to its trading below EMA50, reducing the chances of full recovery in the near upcoming period.

The EURUSD pair witnesses fluctuating moves on its last intraday levels, attempting to gain bullish momentum that might help it to recover and resume its gains in the near upcoming period, attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from them.

This comes amid the continuation of the dynamic support that is represented by its trading above EMA50, reinforcing the stability and dominance of the bullish corrective trend on a short-term basis.

The EURGBP benefiting from the repeated negative pressures by breaking the support at 0.8510, forming a new sharp decline to target at 0.8455.

Forming a new resistance at 0.8505 level and providing negative momentum by the main indicators, these factors support the continuation of the negativity in the near trading, to target new negative stations by reaching 0.8440 and 0.8405.

The expected trading range for today is between 0.8440 and 0.8490

Trend forecast: Bearish

The EURJPY pair formed a new bullish rally yesterday, surpassing 185.80 level, to settle above it to reinforce the chances of activating the bullish trend again.

Note that the continuation of providing bullish momentum by the main indicators make us keep the bullish scenario, which might target 186.20 and 186.60, while the risk of delaying the bullish trend and begin moving in bearish corrective trend requires forming negative trading, to settle below 185.30 level.

The expected trading range for today is between 185.55 and 186.60

Trend forecast: Bullish