The EURJPY pair formed strong bullish rally, taking advantage of the positive factors that are represented by its stability above the extra support at 177.05 besides the main indicators attempt to provide positive momentum, to notice recording the initial target by reaching 178.80.

No escape from renewing the bullish attempts, to attempt to breach 178.80 level and hold above to open the way for recording extra gains that might extend towards 179.35 reaching 180.00, forming temporary psychological barrier against the bullish trading.

The expected trading range for today is between 177.70 and 179.35

Trend forecast: Bullish

Copper price attempted to activate the bullish trend, to end it after reaching the barrier at$5.2000, which forces it to decline correctively to settle near$5.0400.

We expect providing mixed trading, but its main stability within the bullish channel’s levels by forming extra support at $4.7500 level will increase the chances of gathering positive momentum, to repeat the attempts to achieve extra gains that might extend to $5.3200 and $5.5000.

The expected trading range for today is between $4.9200 and $5.2200

Trend forecast fluctuated within the bullish track

Resistance Zone Defined

The $4,079 area gains strength as resistance from the nearby top rising channel line and falling 10-day average. The 10-day is converging with the 20-day after touching the channel line today. Once below the 20-day, it becomes key short-term resistance. Monday’s $4,109 high and last Friday’s $4,144 high cap the zone.

Breakdown Context

Gold fell below the 20-day average on Monday, closing under it for the first time since August 22’s reclaim. No swing back to test it as resistance has occurred yet. Yesterday’s attempt met quick pushback. A more substantial advance into the zone could precede further bearish pullback or consolidation.

Lower Support Targets

The next lower target is the 50% retracement at $3,846 and 50-day average at $3,808, rising. The 50% level is bolstered by a prior three-day sideways move that acted as resistance, now potential support. Convergence of the 50-day and 50% retracement may hint at timing — watch when they align.

Outlook

The close near $4,027 is key — above it targets $4,079, below risks $3,918. The 20-day and channel line cap rebounds, but a test there could set up deeper pullback to $3,846. Monitor 50-day convergence for support clues — today’s strength favors buyers short-term if resistance holds.

For a look at all of today’s economic events, check out our economic calendar.

Resistance Zone Overcome

The advance decisively broke through a potential resistance zone from $3.92 to $3.93, consisting of a 127.2% rising ABCD pattern target and 88.6% Fibonacci retracement. This clearance removes a significant hurdle and puts natural gas in position to challenge prior resistance at the June swing high. Exceeding this level would trigger a bullish signal, breaking a swing high from the downtrend structure and confirming a shift in momentum.

Support Structure

Key near-term support is today’s $3.79 low. The $3.92-$3.93 range, now former resistance, can also be monitored for signs of flipping to support. Since there was minimal pushback at that zone, a confirmed bull breakout could solidify it as a new floor. Wednesday’s $3.75 low provides another short-term support level if tested, offering buyers a chance to defend.

Long-Term Bull Trend

Natural gas is showing clear signs of resuming the long-term bull trend that began from 2024’s low. The long-term uptrend line was recently recovered, along with a downtrend line. Prices now trade above the 200-day average after remaining below it since early August, reinforcing underlying demand and structural improvement.

Upside Targets

Clearing the 127.2% ABCD target opens the 161.8% extended Fibonacci target at $4.21 — the higher potential target for the current advance from August’s low. This would require surpassing the June swing high. A strong weekly close would further solidify the bullish posture, though a pullback remains possible before reaching $4.21.

Outlook

The $3.79 close is critical — above it targets the June high, below risks $3.75. The 200-day average marks maximum downside if support fails. Today’s strength favors continuation — watch the June high for reversal confirmation. Pullbacks may offer entry opportunities if trendlines and the 200-day hold firm.

For a look at all of today’s economic events, check out our economic calendar.

Natural gas price surrendered to stochastic negativity, threatening the stability of the extra support at $3.830, suffering intraday losses by hitting $3.770 level, then attempts to settle above this support to confirm the dominance of the previously suggested bullish bias.

We recommend waiting for providing new bullish close for the upcoming four hours’ time frame above the current support, which reinforces the chances of forming several bullish waves, to target $4.050 level, reaching the barrier near $4.210, while facing new bearish pressures will confirm activating the bearish corrective track, which forces it to suffer more losses by targeting $3.690 and $3.550 level.

The expected trading range for today is between $3.800 and $4.050

Trend forecast: Bullish

Platinum price didn’t move anything in yesterday’s trading, due to the repeated confinement between the extra support at $1525.00, while $1605.00 level keeps forming a barrier against the attempts of activating the previously suggested bullish trend.

Providing more of the sideways trading until breaching the current barrier and holding above it, to confirm its readiness to record some gains by its rally towards $1665.00 and $1695.00, while breaking the support and holding below it will force the price to suffer new losses towards $1470.00 reaching the next support near $1440.00.

The expected trading range for today is between $1530.00 and $1605.00

Trend forecast: Sideways 

Gold is once again attempting a bounce above $3,900 as buyers try their luck for the third consecutive day in Asian trading this Thursday.  

Gold looks to outcome of the Trump-Xi meeting

Gold remains confined within a familiar range, despite the critical US Federal Reserve (Fed) monetary policy decision-induced volatility seen on Wednesday.

The bright metal briefly regained the $4,000 barrier after the Fed delivered on the expected 25 basis points (bps) interest rate cut.

However, the upswing was quickly reversed as the US Dollar (USD) staged an impressive comeback following Fed Chair Jerome Powell’s commentary during the press conference.

Powell noted that policymakers are likely to become more cautious if it deprives them of further job and inflation reports, per Reuters.

His words tempered bets for another rate cut by the Fed next month, with markets now pricing in a 67.8% probability that the Fed will hold rates at the December 10 meeting, compared with a 9.1% chance seen pre-Fed announcements, the CME Group’s FedWatch tool shows.

Early Thursday, Gold buyers have come up for some air after four consecutive days of losses, eagerly awaiting the outcome of the highly anticipated meeting between US President Donald Trump and his Chinese counterpart Xi Jinping in South Korea, that is now underway.

The recent US-China trade talks have signalled a potential deal is in the offing at this meeting, especially after a preliminary consensus on topics including export controls, fentanyl and shipping levies was reached by both sides during their two-day talks in Malaysia.

Failure to reach a trade agreement by the top leaders could send risk sentiment into a tailspin, reviving the safe-haven demand for Gold. On the contrary, if both sides boast about progress toward a trade deal or stike one, Gold could be hammered as risk flows will take over.

In case an outright trade deal is not reached, the specifics of the meetings and details of any progress made would be closely scrutinized by markets.

On Wednesday, President Trump said that he expects to reduce US tariffs on Chinese goods in exchange for Beijing’s commitment to curb exports of fentanyl precursor chemicals.

Another catalyst that could drive Gold moves is the Bank of Japan (BoJ) policy announcements. Any surprises from the BoJ could trigger a sharp volatility in the USD/JPY pair, which could have a significant impact on the USD and the USD-denominated Gold.

Gold price technical analysis: Daily chart

In the daily chart, XAU/USD is currently trading at around $3,938. A bullish 21 SMA advances above the longer ones, in line with the dominant bullish momentum; the 21 SMA stands at $4,066 and, being above spot, caps the immediate topside. Furthermore, the 50 SMA is also bullish, advancing below the shorter one; the 50 SMA stands at $3,807. Below spot, the 50 SMA at $3,807, the 100 SMA at $3,577 and the 200 SMA at $3,340 offer successive support levels, while the 21 SMA at $4,066 acts as resistance. The Relative Strength Index (14) has eased to 47, slipping below its neutral 50 mid-line after prior readings in extreme overbought territory; the latest uptick from 46 reduces bearish traction and favors consolidation as the broader moving-average structure remains positive.

Measuring the rally between $3,314 and $4,380, the 38.2% retracement stands at $3,973. With price currently beneath $3,973, initial resistance is located at $3,973, followed by $4,066 (21 SMA) and the 23.6% retracement at $4,129; a clearance of these levels would reassert the bullish sequence toward the top at $4,380. On the downside, support levels are $3,847 (50% retracement) ahead of $3,721 (61.8%), then $3,542 (78.6%) and $3,314 (100% of the measured upswing). As long as price holds above the rising 50 and 100 SMAs, pullbacks are likely to remain shallow, while a daily close back above $3,973 would be a near-term signal that buyers are regaining traction.

(This content was partially created with the help of an AI tool)