The EURGBP begins the correction – Forecast today – 24-1-2025
The EURGBP price ended the recent bullish rally by achieving the target at 0.8465, to form solid barrier against the bullish attempts to notice the beginning of forming correctional bearish trades by fluctuating near 0.8425.
Also, stochastic begins to provide the negative momentum by approaching 50 level to reinforce the negativity for now and expect suffering additional losses by moving towards 0.8400 and 0.8365 levels before any new attempt to renew the bullish attempts.
The expected trading range for today is between 0.8400 and 0.8445
Trend forecast: Bearish
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Natural gas price exits the bullish track – Forecast today – 24-1-2025
Natural gas price faced strong negative pressures yesterday to force it to form negative attack and settle below the bullish channel’s support line at 3.650$, suffering big losses by reaching 3.440$.
Note that the continuous fluctuation below the broken support and stochastic negative momentum signals allow us to suggest more negative attempts that might target 3.330$ and 3.1900$ levels.
The expected trading range for today is between 3.330$ and 3.600$
Trend forecast: Bearish
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The EURJPY fluctuates below the resistance – Forecast today – 24-1-2025
The EURJPY pair failed to record any new positive target due to the continuous fluctuation below the additional resistance at 163.25, to notice forming mixed trades now by crawling towards 161.90 followed by settling near the MA55.
We expect to confine trades between the mentioned resistance and the additional support at 161.80, to stay neutral and wait to surpass one of the mentioned levels to manage to detect the next near-term and medium-term trend.
The expected trading range for today is between 161.80 and 163.25
Trend forecast: Neutral
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The GBPJPY touches the second target – Forecast today – 24-1-2025
The GBPJPY pair touched the second positive target at 193.65 this morning, to form sold obstacle against the bullish attempts and notice forming quick negative rebound to approach the additional support at 191.80.
The stability of the current support line allows us to keep the bullish overview, waiting to gather the positive momentum again to manage to renew the pressure on 193.65 level followed by attempting to test 194.30 resistance line.
The expected trading range for today is between 192.00 and 194.30
Trend forecast: Bullish
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