Ethereum (ETHUSD) advanced during its recent intraday trading after touching our last projected target at 2,055$, gaining positive momentum that supported the recent upward move. This rebound has also triggered early signs of a positive crossover on the relative strength indicators after the price worked off previous overbought conditions, potentially allowing further short-term gains.
On the other hand, downside pressure continues to trade below its EMA50, which reinforces the dominance of the short-term bearish trend and may limit the attempts of extending the gains.
Brent Crude Oil declined during its recent intraday trading, affected by a prior break below a major short-term ascending trend line. The continued pressure from trading below its EMA50 is limiting any sustainable recovery in the near term, while the price has also broken the 99.00$ support level, which had previously been our downside target.
MoreThe (USDCHF) declined sharply during its recent intraday trading, after breaking a short-term corrective ascending channel that limited price action, to surpass the support of EMA50, increasing bearish pressure and signaling a higher probability of further losses in the near term.
MoreThe (NZDUSD) rose during its recent intraday trading, as the pair attempts to challenge the important resistance level at 0.5875. This move comes alongside efforts to overcome the negative pressure of its EMA50, which has recently acted as a dynamic resistance, and a potential step toward full recovery in the near term.
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