The (USDJPY) reinforced its gains on its last intraday levels, supported by the emergence of the positive signals on the relative strength indicators, attacking the key resistance at 147.50, that represents the neckline of positive technical pattern (the double bottom pattern), which might push the price to target new resistance levels on the near-term basis, if it breaches the resistance, on the other hand, the pair remains under negative pressure due to its trading below EMA50, reducing the chances for its recovery on the near term basis.
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The (GBPUSD) price settled with a cautious rises in its last intraday levels, supported by the emergence of the positive signals from the relative strength indicators, after reaching oversold levels, in attempt to offload some of these conditions, to hit the resistance of its EMA50, putting it under negative pressure that forced it to stop its intraday gains, amid its affection by breaking a bullish corrective trend line on the short-term basis, reducing the chances of its recovery and intensifies the negative pressure.
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Bitcoin price (BTCUSD) declined in its latest intraday trading, after reaching our last expected target at $120,000 resistance, to gather the gains of its previous rises and attempts to gain some positive momentum that might help it to recover and breach this key psychological barrier, noticing its attempts to offload the clear overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from there.
This decline came despite the dominance of main bullish wave with a steep upward angle on a short-term basis, indicating the strength of this trend and the continuation of its dominance, and a potential return to the upside if the price settles above its main support levels.
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Crude oil prices rose slightly in their recent intraday trading, attempting to recover part of their previous losses, supported by efforts to ease the clear oversold conditions reflected in the Relative Strength Index indicators, especially with the emergence of positive overlapping signals that may provide short-term bullish momentum.
However, the price remains under the dominance of a steep short-term bearish wave, with ongoing downward pressure reinforced by its stability below the EMA50. This intensifies negative pressure and limits recovery prospects in the near term.
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