Natural gas price faces difficulty to rise– Forecast today – 2-5-2025
Natural gas price attempted to renew the bullish attempts by its rally yesterday towards $3.550, but providing negative momentum by the main indicators, specifically stochastic exit from the overbought level, which pushed it to return to $3.440, easing the way for activating the bearish correctional track.
Therefore, we will begin preferring the bearish scenario, confirming that holding below the barrier at $3.600, reinforcing the chances for reaching $3.330 then targeting $3.210.
The expected trading range for today is between $3.330 and $3.520
Trend forecast: Bearish
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The EURJPY confirms the breach– Forecast today – 2-5-2025
The EURJPY pair formed a strong bullish wave, to confirm breaching the barrier at 163.25 and achieving clear gains by reaching 164.62, to approach from the initial resistance at 164.80 level.
The price might be forced to form some sideways trading until gaining the required extra positive momentum to surpass the current resistance, to ease the mission of recording extra momentum to surpass the current resistance , easing the mission of recording extra gains that begin at 165.25 and 165.80
The expected trading range for today is between 163.80 and 165.25
Trend forecast: Bullish
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The GBPJPY tests the resistance– Forecast today – 2-5-2025
The GBPJPY pair resumed its bullish attack yesterday, taking advantage of the positive stability above the moving average 55, recording several gains to test the sideways triangle’s resistance by hitting 193.75 level.
The current scenario depends on the strength of this resistance, and its stability makes us expect forming a negative rebound, to target 192.60 and 192.10, while its success to breach the resistance and holding above will open the way towards recording new gains that might extend to 194.60 and 195.10.
The expected trading range for today is between 192.10 and 193.75
Trend forecast: Bearish
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Platinum price repeats the negative closes– Forecast today – 2-5-2025
Despite the Platinum price’s affection by the dominance sideways range trading and its repeated fluctuation near $983.00 level, the bearish scenario will remain valid by the continuation of its fluctuation below the barrier at $983.00 level.
Stochastic reach below the 50 level will increase the chance of gaining negative momentum, to keep our bearish expectations, which might target the $950.00 level, and breaking it will confirm its readiness to resume the negative attack and reach the next target near $938.00
The expected trading range for today is between $938.00 and $975.00
Trend forecast: Bearish
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