Gold settles onto sharp losses in its recent intraday trading after breaking below the $4,900 support level, which represented our initial target in previous analysis. The decline then extended toward testing the $4,800 support, our second price target.

This comes amid the dominance of a short-term minor bearish wave, with the price moving along a supportive trend line for this downward path. Besides negative and dynamic pressure from trading below EMA50, reinforces the bearish trend control. Meanwhile, the relative strength indicators have begun to show a positive crossover after reaching deeply oversold levels, which may temporarily slow the pace of losses and allow for limited corrective movements.

Therefore, we suggest a decline in gold during upcoming intraday trading, if it remains below the $4,900 level, targeting the next support around $4,700.

The expected trading range is between $4,700 support and $5,000 resistance.

Today’s forecast: bearish

The EURUSD pair declined during its latest intraday trading, as negative pressure continues due to trading below EMA50, which reduces the chances of a short-term recovery.

The pair is also moving along a short-term minor bearish trend line, reflecting continued dominance of the negative trend. This coincides with ongoing negative signals from the relative strength indicators, despite it reaching deeply oversold levels, which may limit any positive rebound attempts for now.

The (BTCUSD) price experienced sharp losses in its last intraday trading, to break minor bullish trend line on short-term basis, to continue the decline surpassing EMA50’s support, which intensifies the negative pressures in the upcoming near period, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels. 

The (crude oil) price rose in its last intraday trading, amid the dominance of the main bullish trend and its trading alongside minor supportive trend line, with the continuation of the positive pressure that comes from its trading above EMA50, besides the emergence of the positive signals from the relative strength indicators.