The price of (Gold) declined in its last intraday trading, affected by testing the top of bearish correctional channel that limits the trading on the short-term basis, amid the continuation of the negative pressure that comes from its trading below EMA50, intensifying the negative momentum with the beginning of negative overlapping signals on the (RSI), after reaching overbought levels, eliminating the recovery chances on the near-term basis.
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The price of (EURUSD) declined in its last intraday trading, in an attempt to gain a positive momentum that might assist it to recover and rise again, to offload its clear overbought conditions on the (RSI), especially with the emergence of the negative signals, amid the continuation of the dynamic support that is represented by its trading above EMA50, moving within minor bullish channel’s range that limits its trading on the short-term basis.
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EURCHF confirmed the bullish correctional track by its stability above the support base at 0.9275, surpassing the moving average 55 and hitting $0.9435.
The stability above the moving average 55 will increase the chances for gathering the extra positive momentum, which allows it to resume the attempts of recovering the losses and targeting the positive stations near 0.9490.
The expected trading range for today is between 0.9400 and 0.9490
Trend forecast: Bullish
Natural gas price forced to form some mixed trading after hitting the target near $2.780, affected by stochastic exit from the oversold level, but the negative stability below the resistance at $3.130 and forming neckline of the head and shoulders at $3.050, these factors make us keep the negative suggestion, which might target $2.610 level reaching the next support at $2.390.
The expected trading range for today is between $2.610 and $2.950
Trend forecast: Bearish