Gold price declined during recent intraday trading after breaking $4,500 key support level in yesterday’s session. Selling pressure continued, pushing the price toward the $4,400 support before a limited rebound appeared, supported by improving momentum and attempts to reduce oversold conditions on the relative strength indicators.

Despite this temporary rebound, negative pressure returned amid the continuation of the short-term bearish trend, with gold still trading below EMA50, limiting recovery chances in the near term.

The EURUSD pair declined during its recent intraday trading after failing to break above the key and stubborn resistance at 1.1660, pushing the pair into a new bearish wave, especially after breaking the support of EMA50, which increased the negative pressure in the short term.

This comes with negative signals emergence from the relative strength indicators, reflecting the continued weakness in positive momentum and the dominance of the bearish corrective trend over current trading, which may keep selling pressure unless the pair succeeds in reclaiming important resistance levels during its upcoming moves.

Coffee price surrendered to the negative pressures by providing a new negative close below the broken support level at 277.00, suffering some losses by reaching 264.45 level.

Gathering the negative momentum is important to renew the bearish attempts, which might target 256.10 level, reaching the next main target at 233.30, while the attempt of regaining the bullish trend requires forming a strong bullish rally to settle above 294.65.

The expected trading range for today is between 256.10 and 280.00

Trend forecast: Bearish

The EURJPY pair activated with stochastic positivity, to notice providing some bullish waves, to settle at 185.55, note that the repeated stability below the barrier at 185.80 confirms the bearish corrective scenario, to keep waiting for gathering negative momentum, to begin targeting corrective stations by reaching 184.80 to press on 184.30 barrier.

While facing positive pressure might force it to surpass the barrier, to announce its readiness to resume the main bullish trend by targeting 186.30 and 186.65 level initially.

The expected trading range for today is between 184.30 and 185.80

Trend forecast: Bearish