Evening update for EURUSD-16-09-2026

Ethereum Classic (ETCUSD) has been trading within a volatile intraday range as the key support level at $7.00 continues to hold, providing the cryptocurrency with some positive momentum as it attempts to recover part of its previous losses. The price is also trying to work off some of its clearly oversold conditions on the momentum indicators, particularly as fresh bullish signals begin to emerge. However, the short-term bearish corrective wave remains in control, while continued trading below the 50-period Simple Moving Average (SMA) maintains negative pressure, with the average acting as dynamic resistance and limiting the prospects for a full recovery in the near term.

Qorvo, Inc. (QRVO) surged higher in its latest trading session after successfully retesting the $109.00 level, which had previously acted as key resistance before the stock broke above it and turned it into a new support level. This support reinforces the stability and dominance of the primary short-term uptrend. The latest advance also came after the stock successfully worked off some of its overbought conditions on the momentum indicators, providing greater room for extending its gains in the near term.

Phillips 66 (PSX) resumed its advance in recent intraday trading, with the primary medium-term uptrend remaining firmly in control. Price action continues to follow a minor short-term ascending trendline that supports the prevailing bullish bias, while continued trading above the 50-day Simple Moving Average (SMA) provides positive dynamic support and strengthens the prospects for extending these gains in the near term. The stock has also successfully worked off some of its overbought conditions on the momentum indicators, providing greater room for targeting new resistance levels.