Gold rose in its last intraday trading, with its stability above the psychological support at $4,000, attempting to recover some of the previous losses, testing a main bearish trend line on the short-term basis, amid the continuation of the negative and dynamic pressure that is represented by its trading below EMA50, which reduces the chances of full recovery in the near upcoming period, especially with the beginning of forming negative divergence on the relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of the negative signals from them.

The EURUSD pair experienced fluctuating trading in its last intraday trading, leaning on EMA50’s support, amid its attempts to gain the required bullish momentum for its recovery, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside supportive trend line for this path, besides the emergence of the negative overlapping signals from the relative strength indicators after offloading its oversold conditions, which might obstructs the upside rise if the price couldn’t keep its current support levels.

The EURNZD is under strong bearish pressure recently, which forces it to break 1.9735 level, and holding below it to suffer extra losses by reaching 1.9525.

Forming main barrier at 1.9735 level and providing negative momentum by the main indicators makes us expect reaching the support level at 1.9443, to attempt to break it to confirm its move to a new bearish phase, to targe t1.9370 and 1.9315 level.

The expected trading range for today is between 1.9445 and 1.9610

Trend forecast: Bearish

The EURJPY pair lost the bullish momentum by its last trading due to stochastic attempt to exit the overbought conditions, which forces it to provide some sideways trading by its fluctuation near 185.70 without recording any new positive target.

We expect forming temporary sideways trading until gathering bullish momentum to form new bullish waves, to target 186.20 level, reaching the next barrier near 186.65, while the risk of changing the bullish trend requires a decline below 184.20 support and holding below it.

The expected trading range for today is between 185.15 and 186.25

Trend forecast: Bullish