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The GBPUSD forecast update 17-10-2024

Economies.com
2024-10-17 09:12AM UTC

The GBPUSD price settles below 1.3000$ level, to keep the negative scenario valid and active, supported by the EMA50, waiting to head towards 1.2866$ that represents our next main target, noting that breaching 1.3000$ and trading above it will push the price to recover and achieve gains that start by visiting 1.3115$.

 

The expected trading range for today is between 1.2910$ support and 1.3050$ resistance

 

Trend forecast: Bearish

The EURUSD price forecast update - 17-10-2024

Economies.com
2024-10-17 09:11AM UTC

The EURUSD price crawls downwards to move away from 1.0880$ level, reinforcing the expectations of continuing the bearish trend for the rest of the day, and we believe that the way is open to achieve our next target at 1.0780$, supported by the EMA50 that keeps pressing negatively on the price, reminding you that the continuation of the bearish wave requires holding below 1.0940$.

 

The expected trading range for today is between 1.0780$ support and 1.0920$ resistance

 

Trend forecast: Bearish

The CHFJPY prepares to decline – Forecast today – 17-10-2024

Economies.com
2024-10-17 05:36AM UTC

The CHFJPY price confirmed ending the correctional bullish track by providing frequent negative closings below 174.30 barrier, forming some negative waves to settle near 172.50.

 

Stochastic attempt to crawl towards the oversold areas will increase the chances of gathering the additional negative momentum, to expect forming strong negative decline by targeting 171.60 first, followed by attempting to press on the additional support at 170.80.

 

The expected trading range for today is between 171.60 and 173.00

 

Trend forecast: Bearish

Natural gas price crawls below the support – Forecast today – 17-10-2024

Economies.com
2024-10-17 05:35AM UTC

Natural gas price faced additional negative pressures yesterday to break 2.440$ support line and surpass the MA55 by settling near 2.380$, confirming its surrender to the negative track again.

 

We will depend on 2.610$ level forming major barrier against the negative trades, noting that the major indicators agree to provide the negative momentum to increase the chances of suffering additional losses by targeting 2.300$ and 2.245$ levels soon.

 

The expected trading range for today is between 2.300$ and 2.470$

 

Trend forecast: Bearish