Gold declined during recent intraday trading, amid emerging negative signals from the relative strength indicators after reaching heavily overbought levels. The price is attempting to ease this overbought condition while gathering positive momentum that could support a renewed upward move.

This outlook is supported by the price holding above the $4,500 support level, alongside dynamic support from trading above EMA50, to reinforce achieving this positive scenario, especially with the trading alongside bullish corrective trend line on short-term basis.

The EURUSD pair declined during recent intraday trading after successfully easing its oversold conditions on the relative strength indicators which entered heavily overbought territory relative to price action, with a negative crossover starting to appear, clearly signaling fading positive momentum that had supported the pair earlier, as the pair is now preparing to break below the 1.1445 support level, amid the dominance of the main short-term downtrend.

Despite the continuation of the main indicators’ contradiction, the stability of the GBPAUD price above 1.9055 level supports our previously expected bullish scenario, recording extra gains by reaching 1.9400.

The price needs a new bullish momentum, to settle above 1.9325 level, to confirm its readiness to form a new bullish rally by targeting 1.9380 level initially, to extend the trading towards the next target at 1.9510 which forms a strong obstacle against the bullish attempts in the upcoming trading.

The expected trading range for today is between 1.9200 and 1.9380

Trend forecast: Bullish

Natural gas price began to activate with the negativity of the main indicators, forming slow gradual decline to settle near the initial negative target at $2.810.

Stochastic approach from 20 level will increase the chances for gathering extra negative momentum, to reinforce the chances of resuming the bearish scenario, to keep waiting for targeting the next support at $2.620, to monitor its behavior to confirm the expected targets in the upcoming trading.

The expected trading range for today is between $2.620 and $3.000

Trend forecast: Bearish