The price of (gold) declined in its last intraday trading, due to the stability of the critical resistance level at$4,378, with the emergence of the negative signals on the relative strength indicators, after reaching overbought levels, looking for a higher low to take it as a base to help gain the required bullish momentum to recover and rise again, amid the dominance of the main bullish trend on the short-term basis.
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The price of (EURUSD) continued its decline in its last intraday trading, to break the support level at 1.1630, accompanied by surpassing the support of EMA50, intensifying the negative pressures, amid the dominance of the main bearish trend on the short- term basis, with the emergence of the negative signals on the relative strength indicators, despite reaching oversold levels.
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The EURNZD approached by its last bullish rally from the resistance of the bullish channel by hitting 2.04840 level, forcing it to form temporary bearish correction, affected by stochastic exit from the overbought level, activating the attempts of taking the profits by reaching 2.02425.
Note that the stability of the price within the bullish channel’s levels mainly by forming extra support at 2.01850 level, make us wait for gathering bullish momentum then begin forming strong bullish waves, to target 2.04185 level re205420 resistance, which forms the main target in the current period trading.
The expected trading range for today is between 2.02245 and 2.04285
Trend forecast: Bullish
Natural gas price affected by the economic data, forming strong bullish rally yesterday, surpassing the resistance at $3.350 then recording big gains by reaching $4.060, to settle above $3.830 level, which forms a new support against the bullish trading.
Providing positive momentum by the main indicators will increase the strength of the bullish track, to expect resuming the bullish attack, to target $4.150 level reaching the next resistance near $4.280.
The expected trading range for today is between $3.900 and $4.150
Trend forecast: Bullish