Gold is moving within tight range of sideways fluctuating trading on the intraday levels, attempting to gain the required bullish momentum that might pave the way for targeting new all-time highs in the upcoming period.

This stability comes amid the continuation of the dynamic support that is represented by the trading above EMA50, reinforcing the stability and dominance of the main bullish trend on the short-term basis, however, the emergence of negative overlapping signals on the relative strength indicators after reaching overbought levels may cause temporary slowdown and delay the recovery on near-term basis.

The (EURUSD) price declined in its last intraday trading, as it reached EMA50’s resistance, accompanied by testing the top of bearish corrective channel that limited its previous trading on short-term basis, which increased the negative pressure on the pair, especially with the emergence of negative overlapping signals from relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, which suggest begin forming negative divergence.

The (BTCUSD) price witnessed limited range trading on its last intraday levels, leaning on bullish trend line on a short-term basis, gaining bullish momentum that reinforces the emergence of the positive signals from the relative strength indicators, after reaching oversold levels, on the other hand, the price is under negative pressure due to its trading below EMA50, reducing the chances of its recovery on a near term basis.

Therefore, our expectations suggest a decline in (BTCUSD) price in its upcoming intraday trading, conditioned by the stability of $94,000 resistance, to target $90,000 support level.

The expected trading range for today is between $90,000 support and $94,000 resistance.

Today’s forecast: Neutral

The (crude oil) price rose in its last trading at intraday levels, due to its leaning on EMA50’s support, gaining bullish momentum that helped it to achieve these gains, besides the emergence of positive signals on the relative strength indicators, after reaching oversold levels, amid the dominance of the bullish trend on a short-term basis.