The CADCHF keeps the negativity– Forecast today – 5-5-2025
The CADCHF attempted to recover some losses by its rally correctionally towards 0.6028, taking advantage of stochastic exit from the oversold level, but it couldn’t affect the main bearish channel’s levels that appear in the above image.
The stability of 61.8%Fibonacci correction level near 0.6030 confirms the price confinement within the negative track, which makes us suggest suffering several losses by reaching 0.5915 and breaking this barrier will extend the losses in the medium period towards 0.5785.
The expected trading range for today is between 0.5915 and 0.6020
Trend forecast: Bearish
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Natural gas price regains its bullish bias– Forecast today – 5-5-2025
Natural gas prices succeeded in regaining its bullish bias by forming a strong bullish rally in Friday, to settle above the barrier at $3.6000 level, taking advantage of the extra positive momentum on stochastic by reaching the overbought level.
The moving average 55 near $3.600, will confirm forming a new support level to provide a chance to renew the bullish attempts, targeting $3.780 and $3.910 level.
The expected trading range for today is between $3.650 and $3.780
Trend forecast: Bullish
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The EURJPY is forced to decline – Forecast today – 5-5-2025
The EURJPY pair is forced to form a bearish correctional rebound this morning, affected by the stability of the resistance at 164.80, suffering clear losses by its approach from the initial support at 163.25 level.
Providing positive momentum by stochastic might increase the efficiency of the negative track in the current period, to expect reaching below the initial support and begin targeting several negative stations by reaching 162.45 and 161.90, while the price rally above the mentioned resistance will reinforce the chances for regaining the bullish bias, to expect targeting 165.25 level, reaching the next target at 166.40.
The expected trading range for today is between 162.45 and 164.10
Trend forecast: Bearish
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The GBPJPY moves away from the resistance– Forecast today – 5-5-2025
The GBPJPY pair surrendered to the stability of the resistance at 193.75, forming several waves, to notice strong pressures on the moving average 55 near 191.60, achieving the suggested negative targets.
Note that stochastic exit from the overbought level and providing negative momentum might force the price to keep forming bearish waves to reach near the support of the sideways triangle at 190.70, to find an exit to resume the negative attack in the upcoming period trading.
The expected trading range for today is between 190.70 and 192.25
Trend forecast: Bearish
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