Gold recorded a series of consecutive losses in its recent intraday levels, reaching our morning price target at the $4,600 support level. This comes amid continued negative pressure resulting from trading below EMA50, which reinforces the strength and stability of a short-term minor bearish wave. The price is also moving along a supportive trendline for this downward path. In the background, we observe continued negative signals from the relative strength indicators, despite reaching heavily oversold levels.

The EURUSD pair kept declining in its recent intraday trading, to reach the support level of 1.1690, which was an expected target in our previous analysis, amid the dominance of bearish corrective wave on the short-term basis, with its trading alongside supportive trend line for this path, besides the continuation of the negative pressure due to its trading below EMA50, intensifying the negative pressure on the price, especially with the emergence of negative signals from the relative strength indicators, despite reaching oversold levels.

EURCHF began receiving positive momentum in the last trading, since stochastic surpassed 50 level to keep its stability above %61.8 Fibonacci extension level at 0.9145, recording some gains by reaching 0.9215.

The continuation of the positive pressures will increase the efficiency of the bullish corrective track, to expect recording extra gains by reaching 0.9250 followed by 0.9290 resistance, which forms a confirmation key to detect the main trend in the upcoming trading.

The expected trading range for today is between 0.9170 and 0.9250

Trend forecast: Bullish if 0.9150 remains intact

The EURJPY pair began providing slow negative trading, confirming its surrender to the dominance of the bearish corrective trend, to settle near 186.25 reminding you that the main stability below 187.50 barrier, due to the negative momentum of stochastic supports the chances of resuming the corrective attempts, to keep waiting for reaching 185.65, where breaking it will open the way for suffering extra losses that might extend towards 185.30 and 184.85.

Activating the bullish trend requires a strong positive momentum, which allows it to settle above 187.75 level, to begin targeting new positive stations by its rally towards 188.40 reaching 189.20.

The expected trading range for today is between 185.65 and 187.1000

Trend forecast: Bearish