Coffee price gains some profits – Forecast today – 17-2-2025
Coffee price started to form correctional bearish waves after facing 438.00$ barrier, to notice activating the attempts to gain profits by crawling towards 411.00, while the intraday negativity is caused by stochastic decline below 50 level, which allows us to suggest forming mixed trades until gathering the positive momentum again, to confirm the domination of the bullish scenario on the near-term and medium-term basis.
The frequent stability above 399.00$ support line confirms keeping the bullish track, to expect gathering additional positive momentum and renew the pressure on the mentioned barrier, while surpassing it will push the price to record new historical highs that might start at 447.00$ and 454.00$.
The expected trading range for today is between 431.00 and 407.00
Trend forecast: Bullish
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Natural gas price begins to decline – Forecast today – 17-2-2025
Natural gas price started to activate the bearish track after providing negative closings below 3.820$ resistance line to notice crawling towards the first negative target at 3.620$.
Now, stochastic exit from the overbought areas allows us to expect gathering the additional negative momentum to confirm its preparation to provide new bearish waves and target 3.520$ level, while regaining the bullish bias requires forming strong bullish rally and settle above the mentioned resistance.
The expected trading range for today is between 3.520$ and 3.690$
Trend forecast: Bearish
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The EURJPY is forced to decline – Forecast today – 17-2-2025
The EURJPY pair failed to confirm breaching 160.25 barrier to surrender to the major indicators’ negativity and start forming bearish waves to settle near 159.20.
Now, stochastic stability below 80 level allows us to expect facing new negative pressures to suffer more losses by crawling towards 158.60 and 157.90 levels, while succeeding to breach the barrier and holding above it will confirm regaining the bullish bias and start targeting the positive stations near 161.10 and 161.65 levels.
The expected trading range for today is between 158.60 and 160.00
Trend forecast: Bearish
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The GBPJPY loses the positive momentum – Forecast today – 17-2-2025
The GBPJPY pair lost the positive momentum recently, repeating the negative closings below 193.30 barrier to notice forming some negative waves and settling near the additional support at 190.80.
Note that facing continuous negative pressures might force the price to break the current support and suffer additional losses by moving towards 190.20 followed by repeating the pressure on 61.8% Fibonacci correction level at 189.70.
The expected trading range for today is between 190.20 and 192.00
Trend forecast: Bearish
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