The EURNZD activated the bearish correctional track in its last trading, to gather some of the gains after recording the top at 1.9677, to reach 1.9400.

Despite the continuation of providing negative momentum by stochastic reach to 20 level, the trading above the extra support at 1.9345 forms a main factor to confirm the bullish scenario in the upcoming trading, therefore, we will keep gathering the positive momentum to allow it to form bullish wave to target 1.9485 level, to attempt to step above 1.9545 level.

The expected trading range for today is between 1.9385 and 1.9485

Trend forecast: Bullish

Natural gas price formed head and shoulders pattern in its last trading, to keep fluctuating near the neckline level at $3.050 level, forming a significant threat for the upcoming trading, while breaking the neckline and providing negative closes below it, will confirm its move to a new strong bearish station that might push it to suffer deep losses that begin from its reach $2.710 and $2.380.

While the price success to settle above the neckline and its rally in the near period trading above $3.600 will cancel the chances for changing the main bullish track to begin forming strong bullish attack, to target $3.830 and $4.050, therefore, we recommend the neutrality for today and monitoring the price behavior to avoid any losses that might be caused by changing the main track.

The expected trading range for today is between $3.000 and $3.2200

Trend forecast: Neutral

The EURJPY pair returned to fluctuate below the bullish channel’s resistance at 173.25, announcing its readiness to activate the attempts of gathering the gains and forming correctional decline to reach 171.77.

Note that the beginning of providing negative momentum by stochastic reach below 50 level will increase the efficiency of the bearish correctional track, which might target near 171.15 level reaching the extra support near 170.45 forms a key for detecting the main trend in the medium period trading.

The expected trading range for today is between 171.15 and 172.70

Trend forecast: Bearish

The GBPJPY pair touched 199.22 level yesterday, to achieve the initial suggested positive target in the previous report but its continuous neediness to the positive momentum that pushed it to form bearish correctional wave, to notice its exit from the minor bullish channel’s levels by breaching the support at 198.25.

Note that the continuation of the fluctuation below the broken support and stochastic attempt to provide negative momentum by reaching below 50 level, these factors confirm the domination of the bearish track in the near period, to expect suffering several losses by reaching 197.50, reaching the next support at 196.56, while the price success in stepping above 198.80 and holding above it will reinforce the chances for forming new bullish waves, to keep waiting for reaching the main positive target at 200.35.

The expected trading range for today is between 197.50 and 198.70

Trend forecast: Bearish