The price of (gold) declined in its last trading on the intraday basis, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of steep bearish corrective wave on the short-term basis, besides the relative strength indicators reaching exaggerated overbought levels compared to the price move, increasing the negative pressure on the upcoming trading.
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The price of (EURUSD) declined in its last intraday trading, amid the emergence of negative signals on the relative strength indicators, after reaching exaggerated overbought levels, amid the continuation of the negative pressure due to its trading below EMA50, besides the dominance of the bearish trend on the short-term basis, and its trading alongside trendline.
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The GBPCAD reached the extra support level near 1.0605 in its last negative attack, forming strong barrier against the negative attack, which forces it to form mixed trading by its fluctuation near 1.0635.
Note that the main stability within the bearish channel’s levels and by the stability of the main resistance at 1.0675 makes us wait to gather extra negative momentum, which allows it to break the current support and begin targeting extra bearish stations by reaching 1.0570 followed by the support of the bearish channel’s support at 1.0530.
The expected trading range for today is between 1.0650 and 1.0570
Trend forecast: Bearish
Natural gas price formed sideways trading yesterday by its stability near $4.080 level, attempting to catch its breath and gathering extra positive momentum to confirm the dominance of the bullish scenario by targeting $4.215 level, reaching the bullish channel’s resistance at $4.300.
The risk of activating the bearish corrective path lies in breaking the extra support at $3.830, which forces it to suffer some losses by reaching $3.740 and $3.550 before any attempt to record the previously suggested extra targets.
The expected trading range for today is between $4.050 and $4.300
Trend forecast: Bullish