The price of (EURUSD) declined in its last intraday trading, due to the stability of the resistance at 1.1605, gathering the gains of its previous rises, attempting to gains bullish momentum that might help it breach this resistance, to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from there, amid the continuation of the dynamic support that is represented by its trading above EMA50, and under the dominance of bullish corrective wave on the short-term basis.

GBPCHF recorded several gains by its exit from the bearish channel’s levels and breaching 1.0560 level, reaching strong barrier at 1.0670 to settle below it.

The suggested scenario of the near and medium trading depends on the strength of this barrier, and its stability makes us expect to activate the negative attempts, to target 1.0605 and 1.0560 level, while breaching the barrier and holding above it will confirm a new bullish track, to begin recording extra gains by its rally towards 1.0725 and 1.0695 initially.

The expected trading range for today is between 0.0605 and 2.0670

Trend forecast: Bearish

The EURJPY pair formed bullish trading yesterday, to move away from the extra support at 179.40, achieving some gains by its rally towards 181.45, note that the attempt to form extra support at 180.25 level by providing bullish momentum by stochastics’ rally above 50 level, which will increase the chances of renewing the bullish attempts, to expect attacking the barrier at 181.75, as surpassing it will lead the price to record extra gains that might extend towards 182.30 reaching the next main target at 183.05.

The expected trading range for today is between 180.35 and 182.30

Trend forecast: Bullish

The GBPJPY pair suffered strong bullish pressures, pushing it to settle above 206.00 level, forming new bullish rally to press on the barrier at 206.90, attempting to record extra gains by hitting 207.20 level.

Note that stochastic attempt to reach the overbought level, which might provide a new bullish momentum to push it to provide more of the bullish waves by targeting the bullish channel’s resistance towards 207.65, while activating the bearish corrective scenario requires forming a sharp decline, which allows it to break the extra support at 205.20.

The expected trading range for today is between 206.25 and 207.65

Trend forecast: Bullish