Gold declined during its latest intraday trading, due to the stability of the main resistance level at $4,200, with the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the stability of the main bearish trend on the short-term basis, accompanied by the formation of negative divergence on the relative strength indicators, after reaching overbought levels, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of negative overlapping signals.
The EURUSD pair remains under pressure in recent intraday trading, reaching the 1.1430 support level, which had been identified as a downside target in our previous analyses. The pair is now preparing to break below this support amid growing negative signals from the relative strength indicators, with the continuation of the bearish pressure from trading below EMA50, with the dominance of the short-term primary bearish trend.
Ripple (XRPUSD) advanced in recent intraday trading, supported by positive signals emerging from momentum indicators. The cryptocurrency is attempting to recover part of its previous losses, despite having earlier broken below a short-term bullish corrective trendline. Negative and dynamic pressure remains in place as the price continues to trade below its 50-period Simple Moving Average (SMA), which reduces the likelihood of a sustained recovery in the near term.
Therefore, our outlook points to further downside in the cryptocurrency's upcoming intraday trading sessions, as long as resistance at $1.1835 remains intact. Under this scenario, the next target is the key support level at $1.0865.
Today's price forecast: Bearish.
Accenture plc (ACN) came under heavy selling pressure in recent intraday trading, with the stock entering a sharp decline that pushed it below the key support level at $155.85. The primary bearish trend remains firmly in control, while price action continues to move alongside a short-term descending trendline that supports the current downtrend. Additional negative pressure stems from the stock's continued trading below its 50-day Simple Moving Average (SMA). Meanwhile, momentum indicators continue to generate bearish signals despite remaining in extremely oversold territory.
Accordingly, our outlook remains negative for the stock's upcoming trading sessions, as long as resistance at $155.85 remains intact. Under this scenario, the next downside target is the psychological support level at $100.00.
Today's price forecast: Bearish.