The (USDCAD) price settles on strong gains in its last intraday trading, supported by the emergence of positive signals from relative strength indicators, reaching EMA50’s resistance, which curbed its recent gains, especially with the relative strength indicators reach exaggerated overbought levels compared to the price, indicating a quick fading to the bullish momentum, amid the dominance of the main bearish trend on short-term basis, with its trading alongside supportive trend line for this track.

The (USDJPY) rose in its last intraday trading, attempting to recover some previous losses, amid the dominance of steep minor bearish wave on short-term basis, with the continuation of the negative pressure due to its trading below EMA50, reducing the recovery chances on near-term basis, especially with the relative strength indicators reaching exaggerated overbought levels compared to the price move, indicating a quick decline in the bullish momentum.

GBPUSD declined in its last intraday trading, to confirm breaking 1.3630 key support, which was an expected target in our previous analysis, and it represents a negative short-term technical formation (the double top pattern), which confirms the dominance and strength of the bearish corrective trend on short-term basis, especially with its trading below EMA50, accompanied by the emergence of negative signals from relative strength indicators, despite reaching oversold levels.

Bitcoin’s price recorded slight and cautious gains in its last intraday trading, and it remains moving alongside minor bearish trend line that imposes the short-term basis, this trend gets extra support by trading below EMA50, keeping the negative pressures valid and limiting the chances of any near-term recovery.

Warnings are increasing with the emergence of negative signals from relative strength indicators, especially after reaching exaggerated overbought levels compared to the price move, reinforcing the likelihoods of sellers’ dominance return.

Therefore, we suggest a decline in BTCUSD in its upcoming intraday trading, especially if it settles below $68,000, to target the initial support at $64,000.

Expected trading range is bewteen$63,000 support and $68,000 resistance.

Today’s forecast: Bearish