The price of (gold) rose in its last intraday trading, to recover and resume its previous gains, supported by the emergence of the positive signals on the relative strength indicators, after reaching oversold levels, amid the continuation of the positive support that comes from its trading above EMA50, reinforcing the dominance of the main bullish trend on the short-term basis, amid its trading alongside trendline.
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The price of (EURUSD) witnessed tight moves in calm trading on its last intraday levels, affected by the stability of the critical support at 1.1730, gaining positive momentum, supported by the emergence of the positive signals on the relative strength indicators, after reaching oversold levels, to settle against the negative pressure that comes from its trading below EMA50, affected by breaking main bullish trend line on the short-term basis.
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The EURCHF kept its negative stability below the barrier at 0.9430, surrendered to the negativity of the main indicators, to notice its fluctuation near the support base at 0.9300.
Note that the continuation of the negative pressure will force it to provide new bearish trading by reaching below the current support, then targeting several negative stations by reaching 0.9255 and 0.9200.
The expected trading range for today is between 0.9255 and 0.9345
Trend forecast: Bearish
The EURJPY pair moves slowly, but its stability within the main bullish channel’s levels that appear in the above image and the stability of the extra support at 173.40, pushed it to form some bullish wave, to settle near 174.80.
Noticing stochastic attempt to settle within the overbought level, to provide the required extra positive momentum to reach the next target at 175.20, as surpassing it will open the way for targeting extra stations that might extend to 176.00 and 176.95.
The expected trading range for today is between 173.90 and 175.20
Trend forecast: Bullish