The EURCAD attempted to regain the bullish bias by its rally above the broken bullish channel’s support at 1.5945 level, achieving some of the gains by its rally to 1.1600, to face a strong rejection due to entering zones of high liquidity absorption, to rebound to the downside strongly towards 1.5775, confirming its exit from the bullish track again.

Forming a strong resistance at 1.5930 level against the current trading and providing negative momentum by stochastic, these factors make us prefer the bearish bias dominance, which might target 1.5660 level, reaching the extra support at 1.5530 level.

The expected trading range for today is between 1.5660 and 1.5860

Trend forecast: Bearish

Natural gas price returned to form new negative trading affected by stochastic negativity, providing strong pressures on the critical support at $3.050, which represents the head and shoulders pattern.

Note that breaking the current support will confirm activating the negative pattern, to move to a new negative track, forcing it to suffer several losses by reaching $2.710 and $2.390, for regaining the bullish bias we recommend waiting for providing positive close above $3.320 to ease achieving several gains that might begin at $3.450 and $3.610.

The expected trading range for today is between $2.710 and $3.150.

Trend forecast: Bearish

The EURJPY pair continued forming strong bearish trading, surpassing the negative target at 170.45, which represents the key to detecting the expected trend in the near and medium period trading, targeting 169.70 level.

Note that the stability below 170.45 and providing extra negative momentum by stochastic will increase the efficiency of the bearish correctional track, to expect forming the next negative target at 169.20 level reaching the support base at 167.60 level, while the return of the fluctuation above 170.45 will provide a chance for recovering some of the losses by forming several bullish waves that might target 171.40 and 172.00 level.

The expected trading range for today is between 169.20 and 170.70

Trend forecast: Bearish

The GBPJPY pair confirmed its surrender to the bearish correctional bias dominance by its repeated stability below the resistance at 198.65, forming a new bearish attack in this morning trading and recording some of the suggested targets by hitting 196.95 level.

The continuation of providing negative momentum by Fibonacci will reinforce the chances of confirming breaking 61.8% Fibonacci correction level at 197.50, to reach 196.55 and 197.75, while the failure to confirm the break will force the price to provide mixed trading with the opportunity to rally towards 198.30 before reaching any of the negative targets.

The expected trading range for today is between 196.55 and 198.10

Trend forecast: Bearish