The EURUSD pair declined during its recent intraday trading, preparing to break the key support at 1.1590 amid the dominance of the bearish corrective trend on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which intensifies the negative pressure on the price, especially with the emergence of the negative signals from the relative strength indicators, after reaching overbought levels.

The EURGBP provided a new negative close below the minor bearish channel’s resistance at 0.8685, forming several bearish waves, to settle near 0.8645 level, confirming the dominance of the previously suggested bearish trend.

By the above image, we notice the stability of moving average 55 near the main resistance, besides stochastic attempt to reach the oversold level will increase the negative pressure on the current period trading, which makes us prefer targeting new negative stations that might begin at 0.8610 and 0.8585.

The expected trading range for today is between 0.8610 and 0.8640

Trend forecast: Bearish

The EURJPY pair remains affected by the main indicators’ contradiction, which forces it to delay the bearish corrective trend, and providing weak sideways moves by its stability near 184.60 as appears in the above image.

Reminding you that the stability below %66.8 Fibonacci correction level at 185.80 confirms the price confinement within the bearish track, to keep waiting for gathering negative momentum, to decline below the barrier at 184.30, then begin targeting corrective stations by reaching 183.50 and 182.75.

The expected trading range for today is between 183.50 and 185.00

Trend forecast: Bearish

The GBPJPY pair continued forming weak sideways trading, to keep fluctuating near 213.50 level, announcing its affection by continuous accumulation phase before it begins the previously suggested corrective trend, reminding you that the negative scenario depends on forming main barrier at 214.50 level against the current trading.

Therefore, we will keep waiting to gather the extra negative momentum, which allows it to reach below 212.80 level, to begin targeting corrective stations by reaching 211.80 followed by 210.45 support. 

The expected trading range for today is between 211.80 and 213.95

Trend forecast: Bearish