Silver prices achieved strong gains during their recent intraday trading, supported by positive signals from the relative strength indicators, which boosted the bullish momentum, besides breaking a minor short-term downtrend line, a positive technical signal reflecting its intention to extend its corrective gains.
The price is facing resistance from EMA50, attempting to overcome this negative pressure, which could open the way for targeting new resistance levels in the coming period.
Gold price reinforced its gains during its recent intraday trading after breaking above the key resistance level at 54,500, signaling continued short-term corrective bullish momentum.
This rise is supported by positive signals from the relative strength indicators, despite reaching overbought levels, which may lead to some temporary consolidation or sideways movement to relieve this condition.
On the other hand, the price is still facing negative pressure from trading below EMA50, which could threaten the continuation of these gains and increase the chances of a reversal or sideways movement in the coming period.
The EURUSD price rose during its latest intraday trading, preparing to test the key resistance level at 1.1635, which represents a crucial level that could determine the pair’s direction in the near term.
This upward move is supported by positive signals from the relative strength indicators, besides trading above EMA50, which reinforces the stability of the corrective bullish wave dominating its short-term movement, especially as it moves alongside a supportive trendline.
The (BTCUSD) price slipped lower in its last intraday trading, surrendering to the continued negative pressure due to its trading below EMA50, after it failed to get rid of the negative signals emergence from the relative strength indicators, after reaching overbought levels, on the other hand, the main dominant trend on short-term basis is the bullish trend, with its trading alongside supportive trend line for this path.