Crude Oil price rose in its last intraday trading, reaching the key resistance level at $75.00, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside supportive trend line for this path, supported by its trading above EMA50, on the other hand, we notice the emergence of negative overlapping signals from the relative strength indicators, after reaching overbought levels, which might decelerate the rise, especially if the resistance settles.
Gold kept declining on its recent intraday levels, with the continuation of the negative pressure due to its trading below EMA50, which reinforces the stability and dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line, to reach the psychological barrier at $4,000, which was an expected target in our previous analysis, on the other hand, we notice the beginning of positive overlapping signals from the relative strength indicators, after reaching oversold levels, which might reduce the losses in the near upcoming period.
The EURUSD pair slipped lower in its latest intraday trading, due to the stability of the key resistance at 1.1430, to erase most of its early gains for today, facing negative pressure due to its trading below EMA50, which represents a dynamic resistance that intensified the negative pressure, amid the dominance of the main bearish trend on the short-term basis.
Cardano (ADAUSD) continued to decline in recent intraday trading, with a steep short-term bearish corrective wave remaining firmly in control. Price action continues to move alongside a sharply descending trendline that supports the current downtrend. Additional negative pressure persists as the cryptocurrency remains below its 50-period Simple Moving Average (SMA), which is acting as a dynamic resistance level and limiting the prospects for a sustained recovery in the near term. Despite positive signals emerging from momentum indicators after they reached extremely oversold territory, the price has failed to respond, highlighting the strength of the prevailing bearish pressure.
Therefore, our outlook remains bearish for the cryptocurrency's upcoming intraday trading sessions, as long as resistance at $0.1550 remains intact. Under this scenario, the next downside target is the $0.1390 support level.
Today's price forecast: Bearish.