Gold extended its losses in recent intraday trading, breaking below the $4,200 support level, which was our final projected downside target. This bearish move confirms the continuation of selling pressure and reinforces the short-term downward trend.

Gold remains below EMA50, which continues to weigh on price action and reduces the chances of a recovery. relative strength indicators still reflect negative momentum despite trading in oversold territory, showing the strength of the current decline. With prices continuing to move along a descending trendline, the likelihood of further losses remains high.

The EURUSD pair stabilized with sharp losses, attempting to show some resilience after a strong selling wave pushed the pair to lower levels. However, negative technical pressures continue to dominate their short-term movement.

The technical outlook remains bearish as the pair continues to trade below EMA50 and moves alongside a bearish trendline that supports the main bearish trend. Nevertheless, the emergence of a positive crossover on the relative strength indicators, after reaching deeply oversold levels, may help slow the current pace of losses and support the possibility of limited bullish rebounds or a period of sideways trading before detecting the next trend.

Crude Oil declined in its latest intraday trading, breaking the main short-term bearish trend, accompanied by surpassing EMA50’s support, intensifying the negative pressure on the price, to end the hopes of near-term recovery, especially with the continuation of the negative signals from the relative strength indicators, despite reaching oversold levels.

Crude Oil remains under pressure in its latest intraday trading, with the main short-term bearish trend firmly in control. Price movements continue to track a downward-sloping trendline that reinforces this bearish bias. In addition, the commodity remains under negative dynamic pressure as it trades below its EMA50, reducing the likelihood of a sustainable recovery in the near term. However, a positive crossover has started to emerge on the relative strength indicators after they reached heavily oversold levels, which is currently helping to limit further losses.