The EURUSD pair witnesses fluctuating moves on its last intraday levels, attempting to gain bullish momentum that might help it to recover and resume its gains in the near upcoming period, attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from them.

This comes amid the continuation of the dynamic support that is represented by its trading above EMA50, reinforcing the stability and dominance of the bullish corrective trend on a short-term basis.

The EURGBP benefiting from the repeated negative pressures by breaking the support at 0.8510, forming a new sharp decline to target at 0.8455.

Forming a new resistance at 0.8505 level and providing negative momentum by the main indicators, these factors support the continuation of the negativity in the near trading, to target new negative stations by reaching 0.8440 and 0.8405.

The expected trading range for today is between 0.8440 and 0.8490

Trend forecast: Bearish

The EURJPY pair formed a new bullish rally yesterday, surpassing 185.80 level, to settle above it to reinforce the chances of activating the bullish trend again.

Note that the continuation of providing bullish momentum by the main indicators make us keep the bullish scenario, which might target 186.20 and 186.60, while the risk of delaying the bullish trend and begin moving in bearish corrective trend requires forming negative trading, to settle below 185.30 level.

The expected trading range for today is between 185.55 and 186.60

Trend forecast: Bullish

The GBPJPY pair formed a new bullish rally yesterday, benefiting from the continuation of providing positive momentum by the main indicators, to surpass %38.2 Fibonacci correction level at 218.55, which formed the main target in the previous report, to open the way for recording extra gains by reaching 219.30 level.

We will depend on forming extra support at 218.55 level, to reinforce the chances of forming new bullish waves, targeting the bullish channel’s resistance at 220.00, and surpassing it will form the next main target at 220.45 level in the current trading.

The expected trading range for today is between 218.80 and 220.00

Trend forecast: Bullish