The price of gold continues its sideways moves in tight range on its last intraday levels, to keep attempting to gather its positive strength that might help it to recover and rise again, amid its trading alongside minor trend line on short-term basis, with the continuation of the dynamic pressure that is represented by its trading above EMA50, besides the beginning of positive overlapping signals from relative strength indicators, after offloading its overbought conditions, providing more momentum.

The price of EURUSD declined in its last intraday trading, attempting to offload some of its clear overbought conditions on relative strength indicators, especially with the emergence of negative signals from them, to gather its positive strength that might help it to return to rise, affected by breaching bearish corrective trend line on short-term basis, leaning on EMA50’s support, reinforcing the chance of its recovery.

The EURCHF price kept its negative stability below 0.9220 barrier, to confirm its readiness to resume the negative attack in the near period, the intraday sideways trading is caused by the contradiction between the main indicators, specifically by stochastic rally above 50 level, to force it to settle near 0.9125 level as appears in the above image.

Gathering the negative momentum makes us expect begin the negative trend, to target 0.9060 level initially, and breaking this barrier will extend the trading towards the next negative target at 0.8975 level.

The expected trading range for today is between 0.9060 and 0.9150

Trend forecast: Bearish

The EURJPY pair approached the target at 184.95 in its last bullish rally, to face strong resistance that represents an extension for the broken bullish channel’s support, which forces it to end the bullish attempts and form some bearish waves, to settle near 184.10.

Note that the stability below the previously mentioned resistance will confirm the beginning of activating the negative attack, targeting negative stations near 183.60 and 183.00 makes us expect gathering negative momentum. 

The expected trading range for today is between 183.00 and 184.95

Trend forecast: Bearish