The EURUSD pair declined in its last intraday trading, affected by reaching EMA50’s resistance, forcing it to rebound lower, especially with the beginning of forming negative divergence on the relative strength indicators, after reaching exaggerated overbought levels, with the beginning of negative overlapping signals’ emergence, affected by breaking bullish corrective trend line on the short-term basis.
The AUDCAD price remains stable until this moment above the extra support at 0.9725, to confirm the continuation of the previously suggested bullish scenario, reaching 0.9855.
The moving average 55 is stable near the mentioned support to confirm the trading confinement within the bullish trend, which makes us prefer more bullish attempts, which might target 0.9910 level, to press on the top of 0.9950 to find an exit for recording new gains in the upcoming period.
The expected trading range for today is between 0.9790 and 0.9910
Trend forecast: Bullish
Natural gas price remains surrounded by strong factors that are represented by stability below the resistance of $3.350 besides forming extra barrier at $3.200 level, to confirm its surrender to the previously suggested bearish scenario.
The fluctuation near $2.880 level is caused by the attempt of gathering the required negative momentum to confirm breaking the barrier at $2.820, to ease the mission of resuming the bearish trend by reaching $2.620, where breaking it will confirm its move to a new negative station, to expect forming extra target at $2.620 support.
The expected trading range for today is between $2.620 and $3.100
Trend forecast: Bearish
No news about the EURJPY pair’s price since Friday’s trading, due to its fluctuation near 186.65 barrier, which represents an intraday obstacle against the attempts to resume the main bullish trend.
Note that the stability within the minor bullish channel’s levels by forming initial main support at 185.45 level, these factors make us wait for breaching the current barrier and holding above it to confirm its readiness to resume the bullish trend by its rally towards 186.95 level, to attempt to reach the next main target near 187.60
The expected trading range for today is between 185.90 and 186.95
Trend forecast: Bullish