The EURUSD pair fluctuates around the bearish channel’s resistance, noticing that the EMA50 continues to press negatively on the price, while stochastic loses its positive momentum clearly to reach the overbought areas.

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which its targets begin by breaking 1.1780 to open the way to head towards 1.1700, noting that it is important to hold below 1.1805 to continue the expected decline.

The expected trading range for today is between 1.1700 support and 1.1850 resistance.

The expected trend for today: Bearish

Crude oil price rallied upwards strongly to breach 69.25 level and heads towards achieving more expected gains in the upcoming sessions, on its way to visit 71.05 as a next positive station, noting that breaching this level will add more confirmation to the return to the main bullish track, while consolidating below it might press on the price to resume the correctional bearish trend again.

Gold price touched 1797.00 level and finds solid support there, waiting to break this level to activate the negative effect of the double top pattern and rally towards 1770.00 that represents our next negative target, to keep our bearish overview unless the price rallied to breach 1825.15 and hold above it.

The EURUSD pair trades with clear positivity to test the bearish channel’s resistance and attempts to breach it, which urges caution from the upcoming trading, as confirming the breach will stop the recently suggested negative scenario and lead the price to achieve intraday gains that start at 1.1888.