Gold fell sharply during its latest intraday trading, with the main short-term bearish trend remaining firmly in control. Price continues to trade along a bullish trend line, highlighting persistent selling pressure and bearish momentum.
The decline was accompanied by a break below EMA50, which turned into dynamic resistance, increasing the likelihood of further losses in the near term. Meanwhile, the relative strength indicators resumed issuing negative signals, confirming weakening bullish momentum and supporting a deeper decline toward lower support levels if current pressure persists.
The EURUSD pair declined in its latest intraday trading, confirming a break below the support of the bullish corrective channel, indicating a renewed selling pressure, with regaining the dominance of the main bearish trend.
The pair fell below EMA50, which turned into dynamic resistance, reinforcing the negative outlook and weakening the chances of a near-term recovery. if the pair remains below the broken resistance, further declines toward lower support levels are favored.
Ethereum (ETHUSD) extended its gains in its last intraday trading, reaching the key resistance at $1,800, which was an expected target in our previous analysis, supported by its continued trading above EMA50, which represents a dynamic support that reinforces the stability and dominance of the bullish corrective trend on the short-term basis, on the other hand, we notice the emergence of positive signals from the relative strength indicators on the relative strength indicators, but it reached overbought levels, which might reduce the gains in the upcoming near period.
Brent crude oil rose in its last intraday trading, affected by its stability on a bullish corrective trend line on the short-term basis, gaining bullish momentum that reinforces forming positive divergence on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, with the emergence of the positive signals from them, besides the continuation of the dynamic support that is represented by its trading above EMA50, reinforcing the chances of a recovery in the near upcoming period.