Forecast update for Gold -31-07-2026

The EURUSD pair declined in its last intraday trading, to gather the gains of its previous rises, attempting to offload its clear overbought conditions on the relative strength indicators, especially with the emergence of negative signals from them, to gather its positive strength that might help it recover and rise again, amid the dominance of bullish corrective wave on the short-term basis, with the continuation of the positive support that comes from its trading above EMA50, reinforcing the chances of near term recovery.

The CADCHF pair touched the 0.5822 level during its latest bullish move. However, a lack of positive momentum prompted a temporary corrective pullback, leading the pair to test the support extending toward 0.5730, where it has managed to stabilize above it. We emphasize the importance of maintaining current trading above this support, as this would increase the chances of gathering positive momentum and subsequently initiating bullish waves targeting 0.5790, followed by further gains toward 0.5845.

Natural gas price ended its latest bearish move after touching $2.650, approaching the key support level at $2.620, before forming an intraday rebound and stabilizing around $2.770, supported by the Stochastic indicator’s attempt to exit the oversold zone, as shown in the attached chart.