The price of (Gold) rose in its last intraday trading, after getting strong bullish boost as it leaned on the support of its EMA50, gaining bullish momentum that intensified by the emergence of the positive signals on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, especially with the dominance of the main bullish trend on the short-term basis.
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The price of (EURUSD) surged high from in its last intraday trading, due to its lean on the support level at 1,1780, this is the support that we mentioned in our previous reports as a crossroad for the trend on the near-term basis, gaining bullish momentum that helped it to achieve these gains, especially with the beginning of forming positive divergence on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, with the emergence of the positive signals from them, amid the dominance of the main bullish trend on the short-term basis and its trading alongside trendline.
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The GBPAUD confirmed the stability of the bullish scenario by providing positive close above the support of the bullish channel at 2.0260, taking advantage of providing positive momentum by stochastic, to notice its rally towards 2.0610, attempting to surpass 23.6%Fibonacci correction level.
The continuation of facing the positive pressures will ease the mission of surpassing the moving average 55 near 2.0610, opening the way for recording several gains that might extend towards 2.0695 and 2.0765.
The expected trading range for today is between 2.0465 and 2.0610
Trend forecast: Bullish
Natural gas prices ended their bullish correctional rally by providing a new negative close below the resistance at $3.240, keeping the chances of renewing the suggested negative attempts.
The stability of the moving average 55 below the main resistance and stochastic approach from 80 level will increase the chances for gaining the required negative momentum to renew the negative attempts, to keep waiting for targeting $2.940 and $2.820 level.
The expected trading range for today is between $2.940 and $3.200
Trend forecast: Bearish