Gold rose during its latest intraday sessions, due to stability of the main psychological support level at $4,000, providing positive momentum that helped it to achieve these gains, which targets recovering some previous losses, amid the continuation of the negative pressure that comes from its trading below EMA50, which reinforces the stability and dominance of the main bearish trend on the short-term basis, we notice the stability of the relative strength indicators in overbought levels, exaggeratedly compared to the price move.

The EURUSD pair surged higher during its latest intraday trading, supported by the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels, which threatens these gains to rebound at any moment, especially with the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of sustainable recovery in the near upcoming period, amid the dominance of the main bearish trend on the short-term basis.

GBPAUD price benefited from the positive pressure that comes from stochastic reaching overbought level, to settle within the minor bullish channel’s levels, recording extra gains by reaching 1.9170 level.

Note that the continuation of forming initial support at 1.9055 level and providing positive momentum will increase the chances of targeting new positive stations, to expect reaching 1.9200, to attack the resistance at 1.9240.

The expected trading range for today is between 1.9080 and 1.9200

Trend forecast: Bullish

despite forming a bullish rebound during yesterday’s trading and holidng near the 184.00 level, this does not alter the previously suggested bearish outlook. The 184.85 level continues to act as a strong resistance barrier, by forming 50% Fibonacci correctional level.

The EURJPY price is expected to continue trading in a mixed manner in the near term until it gathers additional bearish momentum, while allows it to confirm breaking 183.40 then attempts to reach the next bearish targets at 182.20 and 180.80, respectively.

The expected trading range for today is between 182.85 and 184.20

Trend forecast: Bearish