EURUSD declined during its latest intraday trading, after attempting to recover some of its earlier losses, attempting to ease some of its oversold conditions in the relative strength indicators, which have begun to provide positive signals. However, this has not changed the negative technical outlook, amid continued downside pressure resulting from trading below EMA50, which acts as dynamic resistance limiting the chances of a recovery.
This reinforces the likelihood of the short-term bearish corrective trend continuing, indicating that the previous gains were part of a corrective attempt that failed to alter the dominant bearish trend.
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Bitcoin (BTCUSD) price extended its cautious gains during its latest intraday trading, testing the resistance of a short-term bearish corrective trend line, accompanied by reaching EMA50’s resistance, increasing the importance of this area as a key resistance that will detect the upcoming trend in the near upcoming period, and the relative strength indicators reached overbought levels, exaggeratedly compared to the price move, which suggest forming a negative divergence that threatens these gains by a rebound to the downside.
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