Despite the weakness of the EURGBP trading, but its stability below the main bearish channel’s resistance at 0.8685 supports the previously suggested negative scenario. The current sideways trading is caused by the contradiction of the main indicators, specifically by stochastic surpass to 50 level as appears in the above image.

We will keep waiting for gathering extra negative momentum to ease the mission of reaching 0.8610 level and surpassing it will make it begin to target more negative stations by reaching 0.8592 and 0.8565, while breaching the resistance and holding above it will cancel the negative scenario, to begin forming strong bullish waves, to expect reaching 0.8710 and 0.8735. 

The expected trading range for today is between 0.8595 and 0.8675

Trend forecast: Bearish

Natural gas price began forming bullish corrective waves, taking advantage of the stability above $2.620 support besides providing positive momentum by stochastic, to notice its rally towards $2.950.

The bullish corrective attempts might continue in the current period, to target $3.100 level, to press on $3.210 resistance, while activating the negative trend requires breaking the support at $2.620 and holding below it to push the price to suffer extra losses by reaching $2.390 and $2.250.

The expected trading range for today is between $2.700 and $3.100

Trend forecast: Bullish

The EURJPY pair formed more temporary positive trading, fluctuating near 185.50 level, which forms confirmation key for the main trend in the near and medium trading.

The stability below the current barrier will increase the chances of forming bearish corrective waves, to expect reaching 184.10 to press on the barrier near 183.50, while breaching the barrier and holding above it will open the way for recording new gains by its rally towards 186.00 and 186.60.

The expected trading range for today is between 184.10 and 185.60

Trend forecast: Bearish

The GBPJPY pair continued delaying the negative corrective attempts due to the positive momentum that comes from the main indicators, which forces it to form some bullish waves, approaching near 214.50.

The price might continue providing mixed trading, however the stability below the previously mentioned barrier will increase the efficiency of the bearish corrective trend, to expect targeting 213.30 level, attempting to reach 211.80, while surpassing the barrier and holding above it will support the chances of forming strong bullish waves, to target 215.25 and 216.05.

The expected trading range for today is between 212.80 and 214.50

Trend forecast: Bearish