The price of (EURUSD) declined in its recent intraday levels, affected by the stability of the resistance level at 1.1745, with the dynamic resistance that is represented by the pair’s trading below EMA50, which prevents the recovery, and under the dominance of bearish correctional wave on the short-term basis and its trading within channel range, besides forming negative divergence on the (RSI), after reaching overbought levels, with the beginning of the negative signals appearance from them.
The EURNZD repeatedly made strong bullish attempts after confirming its stability above the support base at 1.9260, recording several gains by reaching 1.9580.
Forming new support by 1.810%Fibonacci correction level, by stochastic attempt to reach the overbought level, these factors make us prefer more of the upside moves, to target 19635 level, forming the next main target for the near trading.
The expected trading range for today is between 1.9480 and 1.9600
Trend forecast: Bullish
Natural gas price confirmed its surrender to the suggested bearish correctional bias domination by reaching below $3.310 level, to notice its stability near the initial target at $3.210 level, note that the continuation of providing negative momentum by the main indicators will reinforce the chances for targeting the support at $3.050, then monitor the price behavior due to the importance of this support by confirming the main trend in the upcoming trading.
The expected trading range for today is between $3.050 and $3.300
Trend forecast: Bearish
The EURJPY pair didn’t settle above the bullish channel’s resistance at 171.85, due to its neediness to the positive momentum, which forces it to form a temporary rebound by targeting 171.20 level, then begin forming sideways trading attempting to gather the required positive momentum.
To recommend waiting for confirming breaching the current resistance, to reinforce the chances for forming a new bullish attack, to target the positive stations near 172.85 and 173.45, while the breach failure might force it to form a new correctional rebound, to suffer some losses by reaching 170.45 and 169.65.
The expected trading range for today is between 171.20 and 172.85
Trend forecast: Bullish