The EURJPY pair confirmed its regain to the negative track by its stability below the bearish channel’s resistance at 160.90, to notice today’s opening by hitting 158.20 level, then attempt to retest the main resistance, in order to gather more of the negative momentum to confirm the continuation of the negativity in the upcoming trading.

Therefore, we keep preferring the negative attempts, to expect attacking 158.85 level, and confirming breaking this obstacle might extend the trading towards 157.35, which forms the next main target, in attempt to target 161.60 and 162.35 before reaching the extra negative stations.

The expected trading range for today is between 158.20 and 160.80

Trend forecast: Bearish

The GBPJPY pair opened today’s trading negatively, attempting to reach below the main support at 187.50, to hit 186.10, then bounces again to settle above the support again.

Note that the continuation of providing negative momentum by the main indicators will increase the chances for confirming breaking the current support, to reinforce its move to a new negative station, which allows it to target 184.90 level, reaching 50% Fibonacci correction level at 181.80, therefore, we recommend waiting for confirming the break to avoid any losses that might be caused by the price bullish correctional rebound before reaching the extra negative targets.

The expected trading range for today is between 184.90 and 189.80

Trend forecast: bearish by confirming the break

Platinum price continued to form negative trading to reach 890.00$, to begin decreasing the losses by its rebound above the support at 900.00$ level, which represents a historical support as appears in the above image, recovering some of the losses by its stability near 933.00.

Note that the price stability below the broken bullish channel’s support at 958.00$, which forms a main factor to confirm the negative scenario, therefore, we will keep waiting for gathering extra negative momentum, attempting to renew the pressure on the mentioned historical support, while breaking it will extend the losses towards 858.00$ and 880.00$. 

The expected trading range for today is between 880.00$ and 945.00$

Trend forecast: Bearish

The (EURUSD) price experienced fluctuating trading in the last few hours,   the pair finds significant technical support at the 1,0945 level. This stopped the bearish correctional wave,  the necessary positive momentum could be drawn to resume the upward path.

The current movements are still dominated by an upward bias, supported by the price trading along an ascending trendline. Additionally, we notice that the (RSI) reached highly oversold levels, exaggerated compared to the price movement, with a positive overlapping move, suggesting a potential positive divergence, which strengthens the chances of a recovery.