The (Gold) price continued recording new levels in its last trading on the intraday levels, reaching the resistance at $3,755, which represents the suggested target in our previous analysis, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trendline for this track.
The continuation of the positive pressure reinforces this scenario, which is caused by its stability above EMA50, besides the emergence of the positive signals on the relative strength indicators, however it still in the overbought levels, which might confine our gains temporarily and opens the way for correctional rebounds.
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The (EURUSD) continued its rise in its last intraday trading, taking advantage of its dynamic support that comes from its stability above EMA50, providing renewed bullish momentum, with the dominance of the main bullish trend on the short-term basis and its trading alongside supportive bias line for this track.
The relative strength indicators reached overbought levels, exaggeratedly compared to the price move, which might reduce its current gains, and opens the way for some correctional rebounds that target gathering the gains before resuming the rise again.
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The (BTCUSD) price declined in its last intraday trading, after offloading its clear oversold conditions on the relative strength indicators, and the dominance of the selling powers remains valid, affected by its exit from bullish correctional channel’s range that limited its previous trading on the short-term basis with the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the negative pressure.
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The (crude oil) rose in its last intraday trading, to recover some of its previous losses, amid the dominance of the main bearish trend on the short-term basis, and its trading below EMA50, besides the emergence of the negative signals from the relative strength indicators, after offloading its oversold conditions.
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