Natural gas price continued to form weak sideways trades by consolidating near 1.700$ level, affected by the continuous contradiction between the major indicators, in addition to the stability of the main levels represented by 1.540$ support and 2.000$ resistance that forms solid barrier against the attempt to activate the bullish track.

We recommend to stay aside now due to stochastic decline below 50 level, as it will postpone the positive attempts now and wait for new signal to detect the next main trend by surpassing one of the above-mentioned levels.

The expected trading range for today is between 1.600$ and 1.700$

Trend forecast: Neutral

The EURJPY pair surrendered to the strength of the additional barrier 165.30, to force it to postpone the bullish attack and form strong correctional bearish waves to settle near 163.85.

The effect of the correctional track might continue in the near-term period due to stochastic reach to the oversold areas, while we assure the importance of monitoring the price behavior in case reaching the bullish channel’s support line at 163.20, which forms main key to confirm the next main trend.

The expected trading range for today is between 163.40 and 164.25

Trend forecast: Bullish

The GBPJPY pair opened today’s trading by forming strong negative wave and decline below the neckline of the inverted head and shoulders’ pattern at 192.10, to notice suffering clear losses by reaching 191.05 now.

Note that the continuous fluctuation below 192.10 will confirm cancelling the positive pattern and force the price to resume the correctional bearish attempts, to expect moving towards 190.45 initially, followed by 190.15 that forms additional support against the correctional trades.

The expected trading range for today is between 191.80$ and 190.15$

Trend forecast: Bearish

Despite platinum price fluctuating below the MA55 at 915.00$ again and forming new correctional waves by reaching 901.00$, that won’t affect the main bullish track that depends on the stability of the major support at 885.00$.

We notice stochastic exit from the oversold areas to provide good chance to gather the positive momentum, expecting to form new bullish rally soon and surpass the MA55 to succeed to reach the next positive stations near 930.00$ and 950.00$.

The expected trading range for today is between 895.00$ and 915.00$

Trend forecast: Bullish