The EURUSD price forecast update - 19-11-2024
The EURUSD price shows bearish bias after testing 1.0600$ and consolidating below it, to keep the bearish trend scenario valid and active for the upcoming period, reminding you that our targets being at 1.0496$ and extend to 1.0400$ after breaking the previous level, while breaching 1.0600$ will stop the bearish wave and lead the price to achieve new gains that reach 1.0664$.
The expected trading range for today is between 1.0500$ support and 1.0650$ resistance
Trend forecast: Bearish
The CADCHF repeats the negative closings – Forecast today – 19-11-2024
No change to the CADCHF price negative track, as it keeps providing frequent closings below the bearish channel’s resistance line at 0.6355, to notice forming some negative waves recently by crawling below the MA55 and settling near 0.6300.
Stochastic approach to 20 level will increase the negative pressures on the price, allowing us to suggest more negative attempts that might target 0.6260 level followed by reaching the additional support at 0.6205.
The expected trading range for today is between 0.6260 and 0.6325
Trend forecast: Bearish
Natural gas price keeps the positivity – Forecast today – 19-11-2024
Natural gas price kept its positive stability yesterday above the additional support line 2.830$, taking advantage of the positive momentum coming by the major indicators, to notice its fluctuation within temporary sideways track near 2.970$.
We expect to form new bullish rally to attempt to breach 3.030$ barrier that forms the key to record new gains that might extend towards 3.120$ and 3.200$ levels soon.
The expected trading range for today is between 2.900$ and 3.120$
Trend forecast: Bullish
The EURJPY forms bearish channel – Forecast today – 19-11-2024
The EURJPY pair formed correctional bullish rebound yesterday by targeting 163.95 level, affected by the stability above the minor bearish channel’s support line at 162.15.
Note that the continuous consolidation within the negative track and the major indicators’ attempt to provide the negative momentum allow us to keep the bearish overview that might target 162.75 level, followed by waiting to attack the bearish channel’s support line in order to find a way to resume the negative trades in the upcoming period.
The expected trading range for today is between 162.75 and 163.80
Trend forecast: Bearish