The EURUSD pair declined during its latest intraday trading, with the beginning of negative overlapping signals emergence by the relative strength indicators, after entering exaggerated overbought levels compared to the price move, suggesting more downside moves in the near upcoming period, especially with the continuation of the negative pressure that comes from its trading below EMA50, with the dominance of the main bearish trend.

The EURNZD got advantage from the positive momentum in the last period, to surpass %50 Fibonacci correction level at 2.0063, providing chances for recording some gains by reaching 2.0165.

We expect forming extra support at 2.0060 level, by stochastic attempt to settle within the overbought level, renewing the bullish attempts to reach 2.0205, to press on the barrier near 2.0265 to find an exit for resuming the rise in the upcoming trading.

The expected trading range for today is between 2.0050 and 2.0200

Trend forecast: Bullish

No news for natural gas prices by forming weak sideways trading, to keep its stability near the moving average 55 at $3.350, attempting to gather the required negative momentum to motivate the bearish scenario.

Note that the stability below the key resistance level at $3.520 forms a main factor to confirm the bearish scenario, to expect reaching $3.050, to attempt to press on the extra support at $2.920 level.

The expected trading range for today is between $3.050 and $3.350.

Trend forecast: Bearish

The pair formed a new bearish wave during yesterday’s trading, approaching the negative target at 182.85, which forced it to form a positive rebound as Stochastic exited oversold levels, pushing the price to stabilize near 183.85.

Note the continuation of the 184.85 level as an additional resistance barrier, with the stability of the moving average 55 above the current levels, supports the possibility of renewed bearish attempts. The pair may retest the extended support level at 182.80, and a break below this level would confirm a move into a new negative phase, to expect extra losses toward 182.20 reaching 180.80.

The expected trading range for today is between 182.85 and 184.20.

Trend forecast: Bearish