Gold settles on a series of sharp losses during its latest intraday trading, after finding support at its EMA50, which helped limit selling pressure and provided the price with some stability following the latest decline.

Meanwhile, the relative strength indicators reached extremely oversold levels, increasing the likelihood of limited technical rebounds in the near term as the market attempts to ease these oversold conditions. Nevertheless, such movements are likely to remain corrective unless gold manages to reclaim key technical resistance levels.

The EURUSD price remains under pressure during its latest intraday trading, with fluctuated moves aimed at easing the oversold conditions on the relative strength indicators, which has started to show a positive crossover that may provide some temporary support and limit the pace of the decline.

The technical outlook remains bearish after the pair broke below a short-term corrective ascending trendline, while continuing to trade below EMA50, which continues to act as dynamic resistance. Therefore, recovery opportunities remain limited unless the pair manages to regain key technical resistance levels in the coming period.

Bitcoin (BTCUSD) declined in its last intraday trading, amid its attempts to look for a higher low to use it as a base that might help it to gain the required positive momentum for its recovery, leaning on the EMA50’s support, with the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this path, with the relative strength indicators’ entering exaggerated oversold levels compared to the price move, to indicate forming positive divergence.

Crude Oil price kept rising in its last intraday trading, breaching $90.50 resistance which was our expected target in our previous analysis, amid the dominance of the bullish trend on the short-term basis, with the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels, besides the continuation of the dynamic support that is represented by its trading above EMA50, intensifying the positive pressure on the price.