Gold price declined in its recent intraday trading and is now preparing to break below the $4,700 support level, amid continued negative and dynamic pressure represented by trading below EMA50, reducing the chances of a near-term recovery, especially with ongoing negative signals from the relative strength indicators, despite reaching oversold levels, and following the earlier break of a short-term ascending corrective trendline.

The EURUSD pair kept declining trading in its recent intraday trading, affected by the negative pressure that comes from its trading below EMA50, with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels, to break short-term main bullish trend line, to confirm its bearish momentum in the upcoming period.

Coffee price lost positive momentum in the last trading, which forces it to form new bearish waves, to retest 276.00 support to settle above it, note that the stability above the current support might help it to motivate the bullish corrective attempts, to expect the price rally to 297.00, to extend the trading towards the next obstacle near 312.00.

While facing new bearish pressure and reaching the current support will force it to suffer extra losses by targeting 266.10 and 257.00 level.

The expected trading range for today is between 280.00 and 297.00

Trend forecast: Bullish

Natural gas price kept forming weak sideways trading, holding above $2.620 support, but the main indicators contradiction and the continuation of forming an initial resistance at $3.160 obstructs the chances of forming new bullish waves by its fluctuations near $2.720 level.

The continuation of forming sideways trading in the current period, reaching below the current support will confirm its readiness to form new bearish waves, to expect targeting $2.390 and $2.250 level.

The expected trading range for today is between $5.250 and $2.820

Trend forecast: Fluctuated within the bearish trend