Gold prices rose during recent intraday trading, despite the formation of a negative divergence in the relative strength indicators along with emerging negative signals. This comes under the dominance of a short-term bearish corrective trend, which is reinforced by the price continuing to trade below EMA50. This performance reflects the market’s search for its next direction, especially with the key support level at $4,200 holding firm.

The EURUSD pair is experiencing sideways and volatile intraday trading, attempting to build positive momentum that could support a recovery and a renewed upward move. At the same time, the pair is trying to ease its overbought condition on the relative strength indicators, especially as negative signals begin to appear.

Despite this, the price continues to benefit from dynamic support by trading above its 50-period simple moving average, which strengthens the ongoing short-term bullish corrective wave.

The GBPCAD ended the bullish corrective rebound by facing the resistance level at 1.8490, to form a strong obstacle against the attempt of resuming the bullish scenario, forcing it to provide sideways fluctuations near 1.8425.

Note that the stability of the moving average 55 above the current trading that might support the chances of renewing the negative attempts, which might target 1.8330 level reaching 1.8220, while the price success in breaching the resistance and holding above it will confirm its readiness to form strong bullish rally, to begin recording big gains that begin at 1.8550 and 1.8640.

The expected trading range for today is between 1.8330 and 1.8500

Trend forecast: Bearish

There is no change for natural gas prices until this moment, due to the stability below $3.450 barrier, beginning to form bearish waves by reaching $2.950.

The beginning of providing negative momentum by the main indicators makes us keep the bearish scenario, which might target $2.810 level reaching the extra support level at $2.620, to monitor its behavior according to the importance of this support to detect the main trend in the upcoming trading.

The expected trading range for today is between $2.620 and $3.150

Trend forecast: Bearish