The price of (EURUSD) fluctuated in its last intraday trading, amid its attempts to gain bullish momentum that might assist it to surpass the surrounded negative pressure, the first pressing factor is represented by the continuation of its trading below EMA50, with the emergence of the negative signals on the (RSI), after reaching overbought levels, attempting to offload this oversold condition, gathering its positive strength that might assist it to breach the current resistance level at 1.1575.
Get high-accuracy trading signals delivered directly to your Telegram. Subscribe to specialized packages tailored for the world’s top markets:
US Stock Signals from €44/month
Subscribe via TelegramCrypto Signals from €49/month
Subscribe via TelegramForex Signals from €49/month
Subscribe via TelegramVIP Signals (Gold, Oil, Forex, Bitcoin, Ethereum, Indices) from €179/month
Subscribe via TelegramTo view the full performance report for this week, visit the following link:
Despite facing strong bearish pressures and forming sharp decline by targeting 106.70, the main bullish track of the CADJPY remains valid by its stability above 50%Fibonacci correction level, which represents an important support at 106.40.
Note that the possibility of forming sideways trading due to the contradiction between the main indicators, but the stability above the mentioned support will reinforce the chances for gathering the positive momentum, to ease the mission of its rally to 108.10, surpassing this obstacle might extend the trading to the next main target at 109.30.
The expected trading range for today is between 106.50 and 107.90
Trend forecast: Bullish
Natural gas price remains affected by the negativity of the main indicators besides its negative stability below $3.320 level, to notice renewing the negative pressure on the neckline of the head and shoulders pattern at $3.000, reminding you that breaking this level will confirm the price move to a new negative station, forcing it to suffer deep losses that might begin at $2.710 and $2.390, we should wait for achieving the break and confirming a negative close below it to avoid any losses that might be caused by the price attempt to regain the bullish bias.
The expected trading range for today is between $2.710 and $3.150
Trend forecast: Bearish
The EURJPY pair attempted to achieve some gains by its rally to 172.38, but its neediness to the continuous positive momentum that pushed it to form a quick negative rebound, to settle near extra support at 170.45 level.
Note that the stability of the trading above 170.45, increasing the chances for gathering the positive momentum to ease the mission of reaching the positive stations by its rally to 171.60 initially, followed by the next main target at 172.80, while the return to fluctuate below the current support will force it to suffer several losses by reaching 169.80 then to the extra support near 168.45.
The expected trading range for today is between 170.45 and 171.60
Trend forecast: Bullish