The price of (EURUSD) declined in its last intraday trading, to gather its previous rises and attempt to gain bullish momentum that might help it to recover and rise again, besides offloading its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals, amid the continuation of the dynamic support due to its trading above EMA50, affected by bullish technical formation on the short-term basis (the double bottom pattern).
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The EURGBP kept its stability within the bullish channel’s levels, taking advantage of forming an extra support at 0.8665 level, recording some gains by hitting 0.8720 level.
Stochastic rally above 50 level will increase the chances of gaining the required positive momentum to form new bullish waves, reaching 0.8750 followed by the next main target near 0.8780.
The expected trading range for today is between 0.8670 and 0.8750
Trend forecast: Bullish
The EURJPY pair confirmed the continuation of the bullish scenario by providing new close above the extra support at 175.20 level, forming bullish moves by reaching 176.00.
Note that the continuation of the main indicators’ contradiction might force the price to provide new sideways fluctuated moves, but its success in surpassing the intraday barrier near 176.45 might increase the efficiency of the bullish track, to target 177.05 level reaching the achieved top at 177.90.
The expected trading range for today is between 175.50 and 176.45
Trend forecast: Fluctuated within the bullish track
The GBPJPY pair succeeded in surpassing stochastic negativity by providing new close above the support at 201.70 level, forming positive trading to settle near 202.55.
Gathering extra positive momentum is important for reinforcing the chances of forming strong bullish rally to target 203.40 level initially, to extend the trading towards 1.809%Fibonacci extension level at 203.85.
The expected trading range for today is between 201.80 and 203.40
Trend forecast: Bullish