Yesterday, the index experienced strong positive pressure, aligning with its consistent trading above the key support level at 19145.00, which led to the formation of some upward waves as it faces a key barrier at 20000.00, representing the 61.8% extended Fibonacci level.

However, the repeated stability below this barrier confirms the price’s adherence to the bearish scenario, suggesting that new negative waves may form soon to push the price towards 19560.00. If that level is broken, trading may extend again toward the previously mentioned key support. Conversely, if the barrier is broken and the price stabilizes above it, the likelihood of a transition to a bullish scenario increases, with the price potentially targeting new positive levels, making 20180.00 the first positive target for the uptrend.

The expected trading range for today is between 19560.00 and 19950.00.

Today's Price Forecast: Bearish due to barrier stability

Yesterday, the index surged above the additional stable resistance at 41450, driven by U.S. data, which enabled it to recover further losses by recording several gains as it approached the 23.6% Fibonacci retracement level set at 42080 and consolidated below it.

This rise does not threaten the bearish scenario, as the price remains consistently below the 42080 level. We now await the accumulation of additional negative momentum, after which the price is expected to target several lower levels—first moving towards 41620 and then attacking the 41450 level to establish an entry point for resuming the bearish drive. Conversely, if the price breaks above 42080 and consolidates, it will have the opportunity to record further gains by surging towards 42330.

The expected trading range for today is between 41620 and 42080.

Today's Price Forecast: Bearish

Yesterday, the index's price delayed its bearish move by surging above the primary stable barrier at 5640.00, in an attempt to recover some losses by directly advancing towards the next barrier at 5710.00 and consolidating below it, as is evident in the attached chart.

We currently expect the price to experience instability due to conflicting signals: while the Stochastic indicator is showing positive momentum by surging above the 50 level, the price remains persistently negative below the aforementioned barrier, with the 55-period moving average continuously supplying negative momentum. However, if the price falls below 5600.00 and consolidates, it will boost the chances of renewing bearish attempts by repeating the pressure on the main stable support at 5535.00, and if that support is broken, the price is likely to reach additional negative levels currently stable around 5480.00 and 5410.00, respectively.

The expected trading range for today is between 5600.00 and 5710.00.

Today's Price Forecast: Oscillatory within the lower range

Yesterday, the pair’s price experienced strong positive pressure due to the Stochastic indicator reaching the overbought level, enabling it to break through the descending channel resistance at around 162.30. Consequently, we observed its immediate surge towards 163.35, which currently forms a temporary obstacle to confirming the bullish scenario for the upcoming sessions.

The price needs to achieve a new positive close above the broken resistance in order to accumulate the additional positive momentum required to reach further positive levels, which may currently start from 163.80 and extend towards 164.50, thereby forming the next primary target for the bullish move.

The expected trading range for today is between 162.60 and 163.80.

Today's Price Forecast: Bullish