The EURUSD pair ended yesterday above 1.0960 level, showing more bullish bias to approach the second key resistance at 1.0995, and as we mentioned yesterday, breaching this resistance will cancel the head and shoulders’ formation that appears on the chart and push the price to turn to rise and build bullish wave on the intraday basis.

On the other hand, we notice that stochastic loses its positive momentum and shows clear overbought signals, which might force the price to decline again and head to resume the bearish track.

Therefore, the contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaching 1.0995 will push the price to 1.1080 direct, while breaking 1.0960 support represents negative factor that will push the price to decline towards 1.0860 areas initially.

The expected trading range for today is between 1.0890 support and 1.1060 resistance.

The expected trend for today: Neutral

Crude oil price shows mixed trades, as it approached the key resistance 73.73 and bounced bearishly to head towards potential test to the key support 71.50, which keeps our neutrality valid until now, waiting to breach one of these levels to detect the next destination clearly, noting that the expected targets after the breach are explained in our today’s major technical reports.

Gold price resumes its negative trading after the slight rise that it witnessed in the previous sessions, to support the continuation of the expected bearish trend for the upcoming period, waiting to break 2016.90 to confirm extending the correctional bearish wave towards 1977.46, noting that holding below 2065.70 represents major condition to achieve the suggested targets.

The EURUSD pair provides more bullish bias to attack 1.0960 and attempts to breach it, which urges caution from the upcoming trading, as continuing the rise and breaching 1.0995 will lead the price to turn to rise and head to achieve additional gains that reach 1.1080, while the price needs to trade below 1.1080 again to resume the expected bearish wave that its first target located at 1.0860.