The EURGBP tests the support – Forecast today – 31-1-2025
The EURGBP price formed some correctional negative waves recently, achieving the target mentioned in our previous report by reaching 0.8355 to test the major support line that appears on the chart.
Now, stochastic exit from the oversold areas will motivate the price to form bullish waves to expect targeting 0.8400 followed by 0.8435 levels soon, while breaking the current support will confirm postponing the positivity to force the price to suffer additional losses by crawling towards 0.8345 before any attempt to achieve the previously mentioned gains.
The expected trading range for today is between 0.8350 and 0.8400
Trend forecast: Bullish
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The EURJPY attacks the support – Forecast today – 31-1-2025
The EURJPY pair formed many negative waves yesterday, attacking the additional support at 160.20 mentioned in our previous report.
Despite the current fluctuation above the additional support, the major indicators provide the negative momentum to allow us to wait to break 160.00 followed by targeting some negative stations by moving towards 159.40 and 158.10.
The expected trading range for today is between 159.40 and 161.10
Trend forecast: Bearish
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The GBPJPY might decline – Forecast today – 31-1-2025
The GBPJPY pair faced strong negative pressures yesterday to notice crawling below 191.90 level and suffering some losses by touching 191.15 level, while the current positive rebound won’t allow the price to regain the bullish track due to the MA55 consolidation near 50% Fibonacci correction level at 194.10, to confirm confining trades within the negative track for the near-term trades.
Also, stochastic crawl below 50 level will increase the negative pressures to expect suffering additional losses by crawling towards 190.60 followed by reaching the next support at 189.50.
The expected trading range for today is between 190.60 and 192.60
Trend forecast: Bearish
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Platinum price touches the first target – Forecast today – 31-1-2025
Platinum price repeated forming bullish waves after surpassing 955.00$ barrier, to notice rallying towards the first main target at 972.00$ direct and settle near it.
Stochastic current rally above 50 level confirms gaining the additional positive momentum, allowing us to keep the bullish overview that might target the next barrier at 983.00$, while surpassing it will push the price towards 1005.00$ as a next main target.
The expected trading range for today is between 955.00$ and 983.00$
Trend forecast: Bullish
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