The (USDCAD) remained lower during recent intraday trading after the pair held below the key resistance level at 1.3700, which had been our previous target. The pair is currently undergoing profit-taking while attempting to ease its overbought conditions on the relative strength indicators, especially with negative signals beginning to emerge, in an effort to regain positive momentum that may help it break above this resistance.
This comes amid the dominance of a short-term bullish corrective wave, with continued dynamic support from trading above the EMA50, which strengthens the chances of breaching the mentioned resistance.
The (USDJPY) extended its corrective gains during recent intraday trading, supported by movement along a short-term bullish corrective trend line. Positive dynamic pressure remains in place as the pair continues trading above its EMA50, reinforcing the stability of this upward movement.
The pair is also receiving positive signals from the relative strength indicators, despite reaching heavily overbought levels, which may limit the chances of extending gains further in the near term unless nearby resistance levels are broken.
The (GBPUSD) rose during recent intraday trading after finding support at its EMA50, which provided positive momentum and helped the pair recover part of the losses recorded at the start of the week. The pair also attempted to ease its overbought conditions on the relative strength indicators, despite ongoing negative signals.
This performance comes amid the continued dominance of the main short-term bullish trend, with price movements aligned with a supportive trend line, strengthening the chances of further gains in the near term.
Bitcoin price (BTCUSD) moved higher in recent intraday trading after finding support at its EMA50, which provided positive momentum and helped it reach the key resistance level at $82,000.
This performance comes amid the continued dominance of the main short-term bullish trend, with price movements alongside a supportive trend line. The recent rise also came after Bitcoin managed to ease its overbought conditions on the relative strength indicators, giving the price more room to extend gains in the near term.