The (Gold) rose in its last intraday trading, after holding above the key support at $3,225, that we mentioned in our previous reports, providing clear positive momentum that helped it to bounce higher and turn its early losses into intraday gains, supported by the emergence of positive signals on the (RSI) after reaching oversold levels.
Despite this intraday rebound, the precious metal remains moving within bearish correctional channel on the short-term basis, with the continuation of the negative pressure that comes from its stability below EMA50, which makes any potential rise face this technical obstacle.
Therefore, we suggest a decline in (Gold) price in its upcoming intraday trading, if it settles below $3,360, to target $3,225 level, and there are chances for the intraday bullish rebound, and it might retest the mentioned resistance.
The expected trading range is between $3,300 support and $3,360 resistance.
Today's forecast: Bearish
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The (EURUSD) declined in its last trading on its intraday levels, to gather gains after the previous bullish wave, accompanied by the attempts to offload the clear overbought conditions on the (RSI), especially with the emergence of negative signals from there.
Despite this intraday decline, the pair remains supported by its trading above EMA50, and its move within the minor bullish channel’s range, reinforcing the chances for gathering positive powers and resuming the rise again on the near-term basis.
Therefore, our expectations suggest a rise in (EURUSD) price in the upcoming intraday trading, if the support level settles at 1.1650, targeting the key resistance at 1.1730, if the pair manages to breach this resistance, its next target will be at the key resistance at 1.1790.
The expected trading range is between 1.1650 support and 1.1790 resistance.
Today’s forecast: Bullish
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Losing trades: 2
The (BTCUSD) deepened their losses on the last intraday trading, affected by the negative pressure due to its trading below EMA50, affected by breaking a minor bullish bias line on the short-term basis, after offloading the clear oversold conditions on the (RSI), opening the way for recording more of the losses.
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