The EURUSD price continued its efforts to find an upward trend bottom, using it as a base to gain positive momentum for recovery. Despite the recent decline, it remains above the key support level of 1.0945, which forms a positive turning point that could lead to an upward movement, especially with the formation of a positive divergence in the Relative Strength Index (RSI) after it reached excessively oversold levels compared to the price movement. Positive signals have begun to emerge from it.

Crude oil price confirmed its losses on the intraday basis, to break the current support at 60.70$, and settles below it as a signal for its momentum to resume the decline, especially with the return of the negative signals from the (RSI) after the price succeeded to get rid of its oversold condition.

Gold price declined in its last intraday trading, due to the stability of the resistance at 3.050$, affected by several negative pressures and the domination of a bearish correctional wave on the short-term basis, the price decline after it succeeded to surpass some of its clear oversold moves in the (RSI), reinforcing the negative scenario.

CADGBP pair’s price began activating the bearish correctional attack by its repeated stability below the bullish channel’s resistance at 1,8770, besides providing negative momentum by stochastic, to notice suffering losses by reaching 38.2% Fibonacci correction level at 1.827.

The price might be forced to form some of the sideways trading, but the repeated stability below the extra barrier at 1,8465 level, and the continuation of providing negative momentum by stochastic, so that makes us wait for breaking 1,8270 level, to open the way towards targeting extra correctional stations that might begin at 1,8190 and 1,8125.

The expected trading range for today is between 1,8200 and 1,8410

Trend forecast: Bearish