Natural gas price touched $2.792 level, to move away from the neckline of the head and shoulders at $3.050, confirming its surrender to the previously suggested bearish scenario.

Note that the continuation of providing negative momentum by the main indicators will provide a chance for breaking $2.720, to begin forming new bearish waves, to expect reaching $2.480 followed by the next support at $2.390, which forms the waited main target in the current period trading.

The expected trading range for today is between $2.480 and $2.950

Trend forecast: Bearish

The EURJPY pair reacted with stochastic exit from the overbought level this morning, which forces it to delay the bullish attack to reach below 172.00, announcing its surrender to the bearish correctional scenario by its stability near 171.38.

The continuation of the negative pressure might force the price to suffer extra losses by reaching 170.90 followed by the extra support at 170.45, while the price return to settle above 172.00 will provide chances for renewing the bullish attempts and reaching 172.60.

The expected trading range for today is between 170.45 and 172.60

Trend forecast: Bearish temporarily

The GBPJPY pair surrendered this morning trading due to the stability of the resistance at 200.40, to form a strong obstacle against the attempt to return to the bullish channel’s levels, forming strong correctional decline and its stability near 198.77.

Stochastic attempt to exit the oversold level makes us expect renewing the correctional attempts, note that breaking 198.25 level will force it to suffer extra losses that might extend to 61.8%Fibonacci correction level at 197.55, while the stability above 198.25 will increase the chances for renewing the bullish attempts in the near period.

The expected trading range for today is between 198.25 and 199.60

Trend forecast: Bearish

Platinum price recorded some intraday gains by hitting $1357.00 level, but the negative main indicators pushed it to decline again, to settle below the barrier at $1342.00 forming a new sideways fluctuation as appears in the above image.

Note that waiting for confirming breaching the current barrier is important to increase the chances for resuming the main bullish attack by targeting $1375.00 reaching the next target near $1415.00.

The expected trading range for today is between $1315.00 and $1375.00

Trend forecast: Bullish