The EURUSD pair returned to decline in its last intraday trading, after offloading its oversold conditions on the relative strength indicators, gaining bullish momentum that helped it achieve cautious gains in the beginning of today’s trading, however, the price remains affected by breaking bullish trend line on the short-term basis, with a negative pressure due to its trading below EMA50, which represents dynamic resistance that reduces the chances of full recovery in the near upcoming period.

The EURGBP continued to provide bullish corrective waves, to reach the target at 8550.00, note that holding below 0.8570 besides reaching the overbought levels by stochastic confirms the beginning of surpassing the positive pressures, to expect renewing the negative trading soon, to attempt to reach 0.8525 and 0.8500.

While breaching the mentioned barrier and holding above it will cancel the negative scenario in the current trading, providing a chance for recovering more losses by its rally gradually towards 0.8585 and 0.8610.

The expected trading range for today is between 0.8500 and 0.8555

Trend forecast: Bearish

The EURJPY pair succeeded in achieving the initial target at 186.65, which represents an extra barrier against the bullish rally, forcing it to provide some sideways trading by its fluctuation near 186.40 level.

Note that the bullish scenario will remain valid if the current main support settles at 184.30, beside providing new support at 186.00 by the main indicators, these factors make us wait for breaching the current barrier, to reinforce the chances of recording extra gains that might extend towards 186.95 reaching 187.60, attacking key resistance to detect the expected main trend in the upcoming trading.

The expected trading range for today is between 185.90 and 186.95

Trend forecast: Bullish

The pair’s price remains affected by conflicting signals from the main indicators, forcing it to trade sideways with repeated fluctuations below the 218.60 level, which currently represents a temporary barrier against further bullish momentum. As a result, the price has entered a new sideways range, settling near the 218.00 level.

We reiterate that the bullish scenario remains valid as long as the support level at 216.75 holds. Furthermore, the continued formation of 217.50 as additional support leads us to expect the price to gather positive momentum, enabling it to break above the barrier and then reach the next bullish targets, which may begin at 219.40 and 220.00.

The expected trading range for today is between 217.85 and 219.40

Trend forecast: Bullish