The EURUSD pair declined during its latest intraday trading, erasing all of its earlier gains for the day, supported by the stability of 1.1485 support. This level had provided the pair with some positive momentum, but the price is now attempting to break below it, amid the dominance of the main short-term downtrend, with continued negative and dynamic pressure as the pair trades below EMA50, increasing the overall downside pressure.

The JPYCAD kept its negative stability below 1.8515 resistance, reaching below the moving average 55, to confirm its surrender to the dominance of the bearish bias, to settle near 1.8420.

Stochastic exit from the overbought level will increase the negative pressure for today’s trading, preferring more of the negative attempts, which will target 1.8365 and 1.8325 level.

The expected trading range for today is between 1.8365 and 1.8455

Trend forecast: Bearish

The EURJPY pair attempted to record some extra gains by reaching 184.65 level, but its decline since the opening of this morning below 184.20 will force it to delay the bullish attempts in the current period, increasing the chances of forming new bearish waves, attempting to reach 183.65 and 183.35.

Providing negative momentum by stochastic stability confirms delaying the bullish attempts, to keep waiting for reaching the previously negative stations. 

The expected trading range for today is between 183.35 and 184.35

Trend forecast: Bearish

The GBPJPY pair failed to resume the bullish attempts, due to the stability of the barrier at 112.30, forcing it to activate the bearish corrective scenario by threatening the stability of the minor bullish channel’s support at 211.90.

The contradiction of the main indicators by providing negative momentum by stochastic that might push the price to break the current support, to confirm its readiness to target new corrective stations that might extend 211.35 and 210.60, while renewing the bullish scenario depends on breaching the previously mentioned barrier and holding above it.

The expected trading range for today is between 211.35 and 212.75

Trend forecast: Bearish