Gold keeps its gains by a calm fluctuation in its last trading, attempting to gain bullish momentum that might help it to resume its previous gains, attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals from them, affected by positive technical pattern that is represented by the double bottom pattern, with the continuation of the positive pressure due to its trading above EMA50, reinforcing the stability of the bullish corrective trend.

The EURUSD pair rose in its last intraday trading, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside trend line that supports this trend, taking advantage of the positive pressure due to its trading above EMA50, which represents a dynamic support base that reinforces the chances of extending these gains in the upcoming near period, especially with the emergence of positive overlapping signals from the relative strength indicators.

Coffee prices managed to surpass the negative pressure by its rally above the barrier at 275.90, opening the way for recording several gains by reaching 316.30 level, to bounce and settle near the moving average 55 at 300.50.

Note that the continuation of providing positive momentum will reinforce the chances of surpassing the barrier at 311.30, to confirm its readiness to record extra gains that might extend in the near period towards 328.70 and 340.30.

The expected trading range for today is between 294.80 and 328.70

Trend forecast: Bullish

The EURJPY pair surrendered to the negative factors in yesterday’s trading, which are represented by the continuation of forming a strong barrier at 185.80 level besides providing negative momentum by stochastic, which forces it to form new bearish waves, to settle below the support level at 184.20.

Note that the attempt of forming extra barrier at 184.85 level will increase the chances of forming new bearish waves, to expect reaching 183.50 followed by the next support at 183.00, while surpassing the current barrier will provide a chances for recovering the previously achieved losses by its rally towards 185.40 and 185.80.

The expected trading range for today is between 183.50 and 184.60

Trend forecast: Bearish