The (crude oil) price is fluctuating, amid the dominance of minor bearish wave and its trading alongside a bearish bias line, indicating the dominance of this track, with the continuation of the negative pressure that comes from its trading below EMA50, on the other hand, the price attempts to offload its clear oversold levels on the (RSI), and it succeeded to enter overbought levels, indicating the weakness of this positive momentum.
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The (Gold) price witnessed fluctuated trading in its last intraday levels, amid its attempts to breach the main resistance level at $3,400, supported by the dominance of minor bullish wave on the short-term basis, taking advantage of the dynamic support that is represented by its trading above EMA50, besides the emergence of the positive signals on the (RSI).
Therefore, our expectations suggest a rise in the (Gold) price in its upcoming intraday trading, especially when breaching the mentioned resistance at $3,4000, targeting its next resistance at $3,430.
The expected trading range for today is between $3,360 support and $3,420 resistance.
Today’s forecast: Bullish
The (EURUSD) rose in its last intraday trading, supported by the emergence of the positive signals on the (RSI), after reaching oversold levels to attack the stubborn resistance level at 1.1670, amid the dominance of strong minor bullish wave on the short-term basis, reinforcing the positive scenario.
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Algorand’s price (ALGOUSD) declined slightly in its latest intraday movement, as it attempts to collect profits after recent gains and work off the clear overbought signals seen in the Stochastic indicator, especially with the emergence of a negative crossover. However, the overall outlook remains supported by trading above the 50-day SMA, along with a short-term bullish technical pattern — the falling wedge.
Therefore we expect the price to rise during upcoming intraday trading, as long as it remains above the support level at $0.2525, targeting the resistance level at $0.2880.
Today’s price forecast: Bullish.