The (USDCAD) price declined in its last intraday trading, reaching EMA50’s resistance, which put it under negative pressure, besides the emergence of negative overlapping signals from relative strength indicators, after reaching exaggerated overbought conditions compared to the price move, intensifying the negative pressure and reducing the chances of its recovery on near-term basis.

The (USDJPY) declined in its last intraday trading, attempting to gain bullish momentum that might help it to recover and rise again, attempting to offload some of its overbought conditions on relative strength indicators, especially with the emergence of negative overlapping signals, amid the continuation of the positive support due to its trading above EMA50, which provides renewed bullish momentum, especially with the trading within bullish channel’s range that limited its previous trading on short-term basis.

GBPUSD rose cautiously in its last intraday trading, supported by the emergence of positive signals from relative strength indicators, after offloading its overbought conditions, despite the last gains, the price is under negative and dynamic pressure that is represented by its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on short-term basis, especially with its trading alongside supportive trend line for this track.

Bitcoin (BTCUSD) settles on a slight decline in its latest intraday trading, in attempt to form higher low to use it as a base to regain its bullish momentum and to recover, amid the continuation of the dynamic support that is represented by its trading above EMA50, with the dominance of the bullish corrective wave on short-term basis, accompanied by the trading alongside supportive trend line for this path.

With the emergence of positive divergence on the relative strength indicators, after reaching exaggerated oversold levels compared to the price move, with the emergence of positive overlapping signals from there, which might reinforce the chances of regaining bullish momentum in the upcoming period.

Therefore, we suggest a rise in BTCUSD in its upcoming intraday trading, if $69,000 support level settles to target $74,000 resistance.

Expected trading range is bewteen$69,000 support and $74,000 resistance.

Today’s forecast: Bullish