The (GBPUSD) price rose slightly during its last intraday trading, amid the dominance of the main bearish trend on the short-term and its trading alongside supportive trendline for this track, with the continuation of the negative pressure due to its trading below EMA50, reducing the chances of the pair’s recovery on the near-term basis, besides the emergence of the negative signals on the relative strength signals, intensifying the negative pressures around the price.
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Bitcoin (BTCUSD) price continued its rise in its last intraday trading, approaching from testing the resistance level at $115,800, which represents our expected target in our previous analysis, this rise comes amid the continuation of the bullish corrective trend on the short-term basis, where the price moves alongside supportive trendline that confirms the strength of the dominant bullish momentum in the market.
Bitcoin takes advantage of the continuation of the dynamic pressure that comes from its trading above its EMA50, reinforcing the chances of the rise continuation, accompanied by the emergence of positive signals from the relative strength indicators, despite reaching overbought levels, which might ease the way for a temporary profit-taking wave before resuming the main bullish trend.
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Crude oil price fluctuated during its last trading, attempting to gain the required positive momentum to breach the solid resistance at $61.75, supported by the continuation of its trading above EMA50, indicating the dominance of the steep bullish corrective wave, that confirms the strength of the current trend.
Accompanied by the relative strength indicators reaching exaggerated oversold levels compared to the price move, providing extra push that reinforces its potential gains in its upcoming trading, preferring the continuation of the bullish momentum, if the price kept its trading above the main support levels.
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The (Gold) price declined in its last intraday trading, affected by the continuation of the negative pressure that comes from its trading below EMA50, reducing the chances of its recovery on the near-term basis, reinforcing the dominance of the bearish corrective wave that limits its attempts to return to the bullish track.
At the same time, we notice the emergence of negative crossover on the relative strength indicators, after offloading previous oversold conditions, intensifying the negative pressure around the price, and paving the way for potential extension for the decline in its upcoming trading.
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