EURUSD Extends Its Gains – Analysis – 05-08-2026

(BTCUSD) rose during its latest intraday trading, surpassing EMA50’s resistance, attempting to surpass the negative pressures around it, testing the upper boundary of the bearish corrective channel on the short-term basis, threatening the gains and suggest a negative rebound, especially with the emergence of the bearish signals from the relative strength indicators after reaching overbought levels.

The price of crude oil slipped lower in its latest intraday trading, reaching $75.00 support, which was our last targets in our previous analysis, amid the dominance of the bearish corrective trend on the short-term basis, with its trading alongside steep bearish trend line that supports this path, besides the emergence of the negative signals from the relative strength indicators, after forming negative divergence after reaching exaggerated overbought levels compared to the price move, intensifying the negative pressures.

Gold rose during its recent intraday trading, driven by positive signals emerging from the relative strength indicators. This rise enabled the price to breach the resistance of EMA50, marking an important step toward easing the negative pressure surrounding the price. However, a key nearby resistance level remains an obstacle to a full recovery in the near term, amid the dominance of a short-term bullish corrective wave.