The EURUSD pair continued to decline in its latest intraday trading, pressured by renewed selling pressure after breaking below EMA50’s support, reducing its chances of recovery in the near term, amid the continued dominance of the main short-term downtrend, with the price moving alongside a trend line that supports this trajectory and reinforces continued selling pressure.
This coincides with negative signals emerging from the relative strength indicators, despite their reaching deeply oversold levels, reflecting the persistence of bearish momentum and keeps the likelihood of further declines in the near term valid, amid the convergence of negative technical signals surrounding the price.
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Bitcoin (BTCUSD) rose in its latest intraday trading, supported by positive signals from the relative strength indicators, as the price attempts to recover some of its previous losses. However, the short-term corrective bearish trend remains in control, with continued downside pressure stemming from trading below EMA50, which acts as dynamic resistance and limits the price's chances of a full recovery in the near term.
MoreCrude oil has risen in its latest intraday trading, preparing to retest the pivotal resistance level at $102.00, supported by the price continuing to trade above EMA50, which reinforces the stability of the main short-term bullish trend. Meanwhile, a positive divergence is beginning to emerge in the relative strength indicators after they reached deeply oversold territory, with a bullish crossover also starting to appear.
MoreGold is holding on to modest gains in its latest intraday trading, supported by the resilience of the key $4,000 support level. This has provided the price with positive momentum, helping it withstand the surrounding downside pressures. However, the price remains under negative pressure as it continues to trade below EMA50, with the main short-term bearish trend still in control. In addition, the relative strength indicators have entered deeply overbought levels.
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