The (Brent) price surged high in its last intraday trading, surpassing the resistance of its EMA50, getting rid of its negative pressure to open the way for achieving more gains in the upcoming period, especially with the emergence of the positive signals on the relative strength indicators, providing chances for the stability of the bullish corrective trend on the short-term basis.
Silver price jumped higher in its last intraday trading, preparing to reach the key resistance at $54.40, amid the dominance of the main bullish trend and its trading alongside minor trendline on the short-term basis that supports this track, besides the emergence of positive overlapping signals on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, indicating the beginning of forming positive divergence, which intensifies the bullish momentum.
The (USDCHF) price settled with sharp losses in its last intraday trading, amid the dominance of bearish corrective wave on the short-term basis, leaning on the key support at 0.7925 which represents our expected target in our previous analysis, accompanied by the emergence of negative signals on the relative strength indicators, despite reaching oversold levels.
The (NZDUSD) price surged high in its last intraday trading, affected by the stability of the price on the EMA50’s support, gaining bullish momentum that led it to breach the key resistance at 0.5670, this resistance represents a positive technical formation that formed on the short-term basis (the inverted head and shoulders pattern) adding more positive powers in the upcoming period.