The EURUSD pair edged higher cautiously during its latest intraday trading, as the pair attempts to recover part of its previous losses and ease its oversold conditions shown by the relative strength indicators. However, those indicators entered overbought territory compared to the pair’s movement, signaling a rapid loss of this positive momentum.

This comes while the short-term corrective bearish trend remains dominant, with continued negative and dynamic pressure caused by trading below the EMA50, reducing the chances of a sustainable recovery for the pair in the near term.

Coffee price surrendered to the negative pressure in its last trading due to the negative momentum that comes from the main indicators, to settle below the support at 276.80 level, announcing its surrender to the negative scenario by reaching 265.40 level.

Note that providing negative close below 255.00 level in the near trading, to confirm its readiness to target new bearish stations that might begin at 233.80, while its failure to settle below this barrier will provide a chance for recovering some losses by its rally towards 280.00 and 294.00 gradually.

The expected trading range for today is between 234.00 and 274.00

Trend forecast: Bearish

Natural gas price benefited from the extra positive momentum due to stochastic attempts to reach the overbought level by forming new bullish waves to settle near the initial corrective target.

The trading might extend in the near period towards $3.150, to attempt to press on $3.250 resistance, in order to find an exit for resuming the bullish attempts in the upcoming period trading, while the risk of activating the negative trend is represented by breaking the support at $2.620 and holding below it.

The expected trading range for today is between $2.850 and $3.150

Trend forecast: Bullish

The EURJPY pair didn’t move since Friday, however its negative stability below the main barrier at 185.50 level confirms the dominance of the previously suggested bearish trend.

Therefore, we will keep waiting for gathering extra negative momentum, to pave the way towards 184.10 level, to begin targeting extra negative stations by reaching 183.50 followed by the next target near 182.75.

The expected trading range for today is between 183.50 and 185.00

Trend forecast: Bearish