Gold price surged at the beginning of the week’s trading on the intraday levels, breaching our previously expected target at the current resistance at $5,300, supported by the trading alongside minor bullish trend line on short-term basis, beside its stability above EMA50, which reinforced the strength of the bullish momentum.

This momentum has warning signs, as the relative strength indicators begin showing negative overlapping signals after reaching sharp overbought levels, which pushed the price to rebound and reduce some of its early gains, as a signal to begin short-term fluctuating move before completing the rise.

Therefore, we suggest a rise in gold price’s upcoming intraday trading, if it settles above $5,300, to target the next resistance at $5,500.

The expected trading range is between $5,250 support and $5,500 resistance.

Today’s forecast: Bullish

The (EURUSD) price declined in its last trading on intraday levels, to break its EMA50 and put it under accelerated negative pressure that pushed it to continue the decline. 

This decline accompanied by breaking bearish formation that complete the bearish corrective trend on short-term basis, that is represented by symmetrical triangle pattern, reinforcing the likelihoods of the selling pressures continuation in the upcoming period, especially with the stability of the trading below the broken levels.

Therefore, we suggest a decline in (EURUSD)price’s upcoming intraday trading, conditioned by breaking 1.1775 support, to target 1.1710 support as a target for the symmetrical triangle pattern.

The expected trading range is between 1.1775 support and 1.1825 resistance.

Today's forecast: Bearish

The (BTCUSD) price declined in its last intraday trading, amid the dominance of the main bearish trend on short-term basis, with the emergence of negative signals from relative strength indicators, surpassing EMA50’s support, there is no chance for near-term recovery.

The (crude oil) price extended its gains in its last intraday trading, reaching $67.00 key resistance, amid the continuation of the positive pressure due to its trading above EMA50, under the dominance of the main bullish trend on short-term basis, with its trading alongside trend line, besides the emergence of positive signals from relative strength indicators.