Gold price declined during its recent intraday trading, preparing to break below the $4,500 support level, as a negative divergence has formed on the relative strength indicators after reaching heavily overbought levels in an exaggerated manner compared to price movement, while negative signals continue to emerge from these indicators, increasing the negative pressure on price action. This occurs amid the dominance of the short-term corrective bearish trend, alongside continued negative pressure from trading below the EMA50, which reduces the chances of a near-term recovery.

The EURUSD pair experienced strong volatility during its recent intraday trading, touching the 1.1590 support level, which was our expected target in the morning forecast, providing positive momentum that helped it rebound quickly higher, before pulling back again under continued negative pressure from trading below the EMA50, alongside the emergence of a negative crossover on the relative strength indicators after reaching overbought levels, while the short-term corrective bearish trend remains dominant.

No change for the EURCHF negative trend by its stability below 0.9250 resistance, besides forming extra barrier by the moving average 55 at 0.9190, to begin recording some negative targets by reaching 0.9120 level.

Note that providing negative momentum by stochastic will increase the efficiency of the bearish trend in the near trading, to expect reaching 0.9100, to press on the barrier near 0.9070 to find an exit for resuming the negative trend in the upcoming period trading. 

The expected trading range for today is between 0.9070 and 0.9170

Trend forecast: Bearish

Natural gas prices ended the last bullish rally by reaching the target at $3.150, forming an intraday obstacle against the bullish attempts to fluctuate in sideways range by its stability near $3.050.

Stochastic attempts to reach the overbought level increases the chances of gathering the required extra positive momentum to surpass the mentioned barrier to ease the mission of recording extra gains by reaching $3.250 resistance and surpassing it will open the way for recording more gains by reaching $3.360 and $3.520.

The expected trading range for today is between $2.950 and $3.250

Trend forecast: Bullish