The (USDCAD) price witnessed slight declines in its last intraday trading, after breaching our last suggested target at 1.4000, in attempt to take the profit of its previous rises, attempting to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of negative crossover, to gather its positive strength that might help it to resume its sharp rise again, amid the dominance of the main bullish trend on the short-term basis, and its trading alongside supportive trendline for this track.
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The (USDJPY) witnessed fluctuated trading on its last intraday levels, after reaching our last suggested target at 153.30 resistance, attempting to gain bullish momentum that might help it to breach this resistance and keep rising, amid the continuation of the dynamic support that is represented by its trading above EMA50, and under the dominance of the main bullish trend on the short-term basis, with the emergence of the positive signals on the relative strength indicators.
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The (GBPUSD) price settled low sharply in its last intraday trading, amid the dominance of the main bearish trend on the short-term basis and its trading alongside trendline, with the continuation of the negative pressure due to its trading below EMA50, to break the key support of 1.3340, this support was our suggested target in our previous analysis, which intensifies the negative pressure on the price.
On the other hand, we notice the emergence of positive overlapping signals on the relative strength indicators, after reaching oversold levels, which reduced the last losses due to the price neediness to offload some of this oversold condition.
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Bitcoin price (BTCUSD) rose in its last intraday trading, taking advantage of the key support level at $121,00, gaining bullish momentum that helped it to achieve some gains, in attempt to recover some of its previous losses, as the price attempts to offload the clear oversold conditions on the relative strength indicators, especially with the emergence of the positive signals.
Despite this intraday improvement, the price remains affected negatively by breaking bullish trend line on the short-term basis besides the continuation of its trading below EMA50, indicating the weakness of the recovery likelihood and suggesting the beginning of forming new bearish wave on a near-term basis.
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