The EURUSD pair moved higher in its latest intraday trading after finding support at the 1.1430 level, which was our targeted support level earlier today. The pair is attempting to recover part of its previous losses while also easing oversold conditions on the relative strength indicators, particularly as positive signals continue to emerge from the indicators. This comes despite the prevailing short-term bearish trend.

The GBPAUD pair failed to maintain stability above the breached descending channel resistance at 1.8915. Influenced by negative signals from the major indicators, the pair formed strong bearish waves, leading it to settle near 1.8825, as shown on the accompanying chart.

Continued fluctuation below the current resistance, along with the Stochastic indicator moving toward the oversold region, is expected to reinforce the bearish scenario in the near term. As a result, the pair may incur further losses, targeting 1.8775 initially and then 1.8725.

The expected trading range for today is between 1.8775 and 1.8880

Trend forecast: Bearish

There is no change in the bearish trend of natural gas prices, as the market continues to stabilize below the key barrier at $3.520. In addition, repeated trading below the 55-period moving average increases the likelihood of forming new bearish waves in the near term, targeting $2.920 initially and then the major support level at $2.620.

On the other hand, if the price succeeds in breaking above $3.520 and maintains stability above it, this would confirm a shift to a bullish trend. In that case, a strong upward rally could develop, with initial targets at $3.730 and $3.950, respectively.

The expected trading range for today is between $2.920 and $3.300

Trend forecast: Bearish

Since yesterday’s trading, the EURJPY pair has come under negative pressure following the decline of the Stochastic indicator toward the 20 level, prompting the pair to test the additional support level at 184.20 and stabilize above it.

It is important to note that continued negative pressure, particularly with 185.40 acting as an additional barrier, could increase the likelihood of a break below the current support. Such a move would force the pair to incur further losses, initially targeting 183.90 and then 183.55. On the other hand, if the pair succeeds in holding above 185.40, it will return to the bullish path and begin recording fresh gains, with 186.25 serving as the first upside target.

The expected trading range for today is between 183.80 and 185.20

Trend forecast: Bearish