Gold extending its gains in its recent intraday trading, breaching $4,100 resistance, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside supportive trend line for this path, besides the positive pressure that comes from its trading above EMA50, on the other hand, we notice that the relative strength indicators have reached overbought levels, exaggeratedly compared to the price action, which might decelerate the continuation of the upside moves in the near upcoming period.
The EURUSD pair continued its fluctuation in its latest intraday trading, amid its trading within bullish corrective channel’s range on the short-term basis, supported by its continued trading above EMA50, on the other hand, we notice the beginning of negative overlapping signals on the relative strength indicators, after reaching overbought levels, which reduced the upside moves in the previous period.
Litecoin (LTCUSD) edged slightly lower in recent intraday trading as the cryptocurrency attempts to build fresh positive momentum that could support a recovery and help it overcome the negative pressure from its 50-period Simple Moving Average (SMA). Despite the modest pullback, a short-term bullish corrective trend remains in control, with price action continuing to move alongside an ascending trendline that supports the current advance. Momentum indicators are also generating positive signals, reinforcing the prospects for further gains in the near term.
Therefore, our outlook remains bullish for the cryptocurrency's upcoming intraday trading sessions, as long as the price holds above the $42.70 support level. Under this scenario, the next upside target is the key and stubborn resistance level at $45.40.
Today's price forecast: Bullish.
Microsoft Corporation (MSFT) moved lower in recent intraday trading after encountering resistance at its 50-day Simple Moving Average (SMA), which placed the stock under renewed selling pressure and forced it to reverse lower. The primary bearish trend remains firmly in control across both the medium and short term. Meanwhile, momentum indicators are generating bearish signals after reaching extremely overbought territory, further reinforcing the negative outlook.
Therefore, our outlook remains bearish for the stock's upcoming trading sessions, as long as resistance at $398.00 remains intact. Under this scenario, the stock is expected to target the $367.00 support level.
Today's price forecast: Bearish.