The (EURUSD) continued to slide during its recent intraday trading, breaking a major short-term upward trendline. This decline came alongside the pair falling below EMA50, increasing the negative pressure on the pair and weakening any hopes of a near-term recovery.

This also coincides with the beginning of a negative crossover on the relative strength indicators, after the pair managed to ease part of its oversold conditions, opening the door for further losses.

The GBPCAD ended the bullish corrective rebound by facing 1.8640 resistance, to settle below it, attempting to confirm the previously suggested negativity by reaching 1.8530.

Stochastics’ attempts to provide negative momentum will increase the efficiency of the bearish trend, to expect targeting 1.8465 level initially, to repeat the pressure on the barrier near 1.8405 to find an exit to confirm the continuation of the negativity in the upcoming trading.

The expected trading range for today is between 1.8465 and 1.8570

Trend forecast: Bearish

The EURJPY pair remains stable until this moment below 185.50 level, to increase the chances of activating the bearish corrective trend, to keep waiting for gathering the required negative momentum, targeting 184.40 level, then attempting to break the barrier at 184.10, to reinforce the chances of targeting extra negative stations in the near and medium period.

Note that breaching the barrier and holding above it will open the way for activating the bullish attempts, to expect targeting 186.00 and 186.60.

The expected trading range for today is between 184.10 and 185.60

Trend forecast: Bearish

The GBPJPY pair confirmed its surrender to the bearish corrective trend by providing a new close below 214.50 level, to begin forming bearish waves, achieving the corrective targets by reaching 212.75 level, forcing it to form mixed trading due to the continuation of the main indicators’ contradiction.

The price needs a new bearish momentum to help it renew the bearish attempts, which might target 211.80 and 211.30, while breaching the mentioned barrier and holding above it will cancel the negative scenario, providing chance to begin forming new bullish waves, to expect forming initial positive station at 215.25 level.

The expected trading range for today is between 211.80 and 214.20

Trend forecast: Bearish