The EURUSD price forecast update - 02-12-2024
The EURUSD price shows more bearish bias to approach our first waited target at 1.0475$, and we suggest breaking this level to achieve additional negative targets that extend to 1.0400$.
Therefore, we will continue to suggest the bearish trend for the upcoming sessions unless the price rallied to breach 1.0563$ and hold above it.
The expected trading range for today is between 1.0440$ support and 1.0580$ resistance
Trend forecast: Bullish
The EURCHF settles below the resistance – Forecast today – 2-12-2024
No change to the EURCHF price bearish track by consolidating below the bearish channel’s resistance line at 0.9338, while the sideways fluctuation near 0.9310 level is caused by the contradiction between stochastic positivity against the negative stability, waiting to provide negative momentum soon and ease the mission of targeting the negative stations located near 0.9250 and 0.9210 levels.
On the other hand, succeeding to breach the resistance and holding above it will confirm moving to the bullish track to start targeting many positive stations that start at 0.9375.
The expected trading range for today is between 0.9250 and 0.9320
Trend forecast: Bearish
Natural gas price begins with new negativity – Forecast today – 2-12-2024
Natural gas price started this morning by forming bearish gap, attacking 3.190$ level to confirm its surrender to the domination of the previously suggested correctional bearish track.
Now, stochastic attempt to crawl towards the oversold areas will increase the negative pressures on today’s trading, to expect suffer additional losses by moving towards 2.980$ followed by reaching the next additional support at 2.920$.
The expected trading range for today is between 2.980$ and 3.300$
Trend forecast: Bearish
The EURJPY attempts to activate the correctional bullish track – Forecast today – 2-12-2024
The EURJPY pair kept its stability above 158.25 level recently, attempting to activate the previously suggested correctional bullish track and take advantage of stochastic positive momentum, to settle near 158.50.
Gathering continuous positive momentum will allow the price to surpass the first obstacle at 158.80 to open the way to target many positive stations that might start at 159.25 followed by reaching 159.85, while declining below 158.25 and providing negative close will confirm its surrender to the domination of the bearish bias to force it to suffer new losses by crawling towards 157.10 first.
The expected trading range for today is between 158.20 and 159.85
Trend forecast: Bullish