The USDCAD pair rose during its latest intraday trading, as it continued to break the key and stubborn resistance level at 1.3735. The pair is benefiting from dynamic support, represented by trading above EMA50, which reinforces the stability and dominance of the short-term bullish corrective trend. Price movements are also aligned along a minor upward trendline supporting this path.

We also notice the emergence of positive signals from the relative strength indicators, after the pair managed to ease its overbought condition, which may give it greater ability to extend its gains in the coming period.

The USDJPY pair extended its cautious gains in its latest intraday trading, as it tries to recover part of its previous losses. At the same time, the pair is attempting to relieve some of its clear oversold condition on the relative strength indicators, with the emergence of positive signals from the indicator.

However, the pair remains affected by breaking a main upward trendline in the short term, along with continued negative pressure due to trading below EMA50, which reduces the chances of a full recovery in the near term.

The GBPUSD pair declined during its recent intraday trading, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to resume its strong gains in the upcoming near period, attempting offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals, affected by breaching main bearish trend on short-term basis, with a dynamic support that is represented by breaching main bearish trend line on the short-term basis, with a dynamic support that is represented by its trading above EMA50, which reinforces the chances of the rise.

Bitcoin (BTCUSD) price rose during its latest intraday trading, due to the stability of the support level at $69,000, which had previously been a price target in our earlier analysis. Providing positive momentum, allowing it to recover part of its previous losses. The price managed to ease oversold conditions on the relative strength indicators.

However, negative pressures remain due to trading below EMA50, limiting the chances of a sustained recovery in the near term. Due to the effect of exiting a short-term bullish channel, which weakens positive momentum and increases the likelihood of continued volatility or further negative pressure in the coming period.

Therefore, we expect a decline in Bitcoin price in the upcoming intraday trading, if the resistance settles at $71,500, targeting the mentioned support at $69,000.

Expected trading range is bewteen$69,000 support and $71,500 resistance.

Today’s forecast: Bearish