The GBPCAD pair’s price has recently formed several bullish waves, as we notice it is currently positioned above the main ascending channel support extending toward 1.8745. It is attempting to regain the bullish path by achieving some gains, given its current position near 1.8800.

Repeated stability above the previously mentioned support, along with the main indicators attempting to provide positive momentum, will increase the effectiveness of the bullish path. We expect the price to target the 1.8870 level soon and then pressure the recent high formed near 1.8910.

The expected trading range for today is between 1.8760 and 1.8870.

Trend forecast: Bullish

Despite the attempt of natural gas price to form some positive trades, its repeated positioning below the 55-period moving average, which acts as a strong barrier at 3.360$, supports the chances of the bearish path dominating the near-term trading.

Additionally, the Stochastic indicator’s exit from the overbought level will increase negative pressure on the current trades. Therefore, we maintain our bearish expectations, which may target the 2.920$ and 2.800$ levels respectively in the near term. As for activating a bullish attack, the price needs to form a strong positive surge and stabilize above the resistance level at 3.530$.

The expected trading range for today is between 2.920$ and 3.300$.

Trend forecast: Bearish

The EURJPY pair’s price has provided a positive signal by closing daily trading above the stable barrier at 185.80, attempting to take advantage of the main indicators’ positive momentum to confirm its transition into a new positive phase. We note that it touched the 186.30 level during this morning’s trading.

In general, repeated stability above the additional support level at 184.20, along with the continued attempt of the main indicators to provide positive momentum, will increase the chances of the price forming a bullish surge. We expect it to move toward 186.65 and then attempt to reach the next target located at 187.40.

The expected trading range for today is between 185.60 and 186.65

Trend forecast: Bullish

The pair’s price renewed its attempts to pressure the stable resistance at 215.50, trying to find a way to resume the previously expected bullish attack. We recommend waiting for the price to achieve the required breakout, which would strengthen the chances of reaching positive levels that may begin at 216.60 and extend in the near term toward 217.55.

However, failure to break through would push the price to form downward corrective waves, putting pressure on the 214.10 level and reaching the stable support at 213.50, which in turn represents the key level for confirming the proposed direction for the upcoming trades.

The expected trading range for today is between 214.50 and 216.65

Trend forecast: Bullish