Gold rose in its last intraday trading, breaching the main bearish trend line on the short-term basis, accompanied by surpassing EMA50, as a strong negative signal that indicates the improvement of the buying momentum and surpassing the most important negative pressure that obstructs its movement.

The emergence of positive signals from the relative strength indicators increases the chances of continuing recovery, which supports the likelihoods of extending the gains and targeting higher resistance levels in the upcoming near period, if gold kept its stability above the last breaching levels.

The EURUSD pair rose in its last intraday trading, benefiting from the positive signals from the relative strength indicators, after reaching oversold levels, with its trading within bullish corrective channel that limits its previous trading on the short-term basis, reinforcing the positive momentum, where EMA50’s resistance represents an obstacle that may reduce these gains.

The AUDCAD succeeded in surpassing the negative pressure by facing the support at 0.9730 and holding above it to take advantage of the moving average 55’s stability, to renew the bullish action by its rally towards 0.9860 as appears in the above image.

And that confirms the continuation of the bullish scenario, providing positive momentum by stochastic to expect breaching 0.9890 barrier, to begin targeting new positive stations that might begin at 0.9950 and 0.9985.

The expected trading range for today is between 0.9820 and 0.9950

Trend forecast: Bullish

Providing sideways trading by the natural gas price’s fluctuation near $2.850 level, however it will not affect the main bearish trend, depending on the continuation of forming main barrier at $3.350 level, besides the continuation of providing negative momentum by the main indicators.

And that make us prefer resuming the bearish trend, to reach $2.620 support, where breaking it will confirm targeting new negative stations that might begin at $2.540 and $2.270. 

The expected trading range for today is between $2.620 and $3.050

Trend forecast: Bearish