The price of EURUSD rose in its last intraday trading, supported by the emergence of the positive signals from relative strength indicators, in attempt to correct the main bearish trend on short-term basis, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main bearihs trend, and the relative strength indicators reached exaggerated overbought levels, indicating a quick fading for the bullish momentum.

EURCHF kept its negative track, despite the contradiction of the main indicators, to settle below the extra barrier at 0.9140 and targeting some extra negative stations by reaching 0.9025 level.

Providing negative momentum by stochastic will increase the efficiency of the bearish track, to keep our expectations by reaching 0.8980 level, which forms the next main target in the current trading.

The expected trading range for today is between 0.8990 and 0.9110

Trend forecast: Bearish

The EURJPY pair formed several bearish waves, affected by the stability below 184.85 barrier, activating with the main indicators’ negativity, achieving the previously suggested targets by reaching 182.05 level, which keeps forming an obstacle against the negative trading.

The last intraday positive rebound doesn’t threaten changing the negative track, to keep waiting for extra negative momentum to gather, to ease the mission of breaking 182.05 level and holding below it to confirm its readiness to target new bearish stations that might begin at 181.55 and 181.10.

The expected trading range for today is between 181.55 and 183.20

Trend forecast: Bearish

The GBPJPY pair activated with the negativity of the main indicators yesterday, to achieve the suggested negative targets in the previous report by reaching 209.40, which forces it to provide mixed trading to gather the required extra negative momentum to confirm the continuation of the negativity in the upcoming trading.

Note that forming an extra barrier at 210.65 level, and the stability of the trading below the moving average 55, these factors makes us keep the negative scenario to expect breaking the extra support at 209.10, to target new bearish stations that might begin at 208.30 reaching 206.90.

The expected trading range for today is between 208.30 and 210.40

Trend forecast: Bearish