The price of (Gold) declined on its last intraday trading, affected by the emergence of the negative signals on the (RSI), after reaching overbought levels, which pushed the price to attempt to offload this condition and catch breaths after the previous bullish wave.
Despite this decline, the main bullish trend remains dominant on the short-term basis, supported by its trading alongside a minor bullish bias line, providing the chance for gathering its positive strength again, easing the way for a potential rise unless the bullish momentum returned to be the dominant.
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The price of (EURUSD) declined in its recent intraday levels, completing its attempts to gain a positive momentum that might help it to recover and breach the current resistance at 1.1750, and attempts to offload its clear overbought conditions on the (RSI), especially with the emergence of the negative signals, this comes amid the continuation of the positive pressure that comes from its trading above EMA50, and under the dominance of the main bullish trend on the short-term basis and its trading alongside a supportive bias line for this trend.
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The (EURGBP) price continued the decline in its last intraday trading, looking for a rising low to take it as a base might help it to gain the required positive momentum to recover, reaching by its last decline to lean on the support of its EM5A0, amid the dominance of the main bullish trend and its trading alongside a minor bias line on the short-term basis, with the (RSI) indicators reach to the oversold levels, exaggeratedly compared to the price move, which suggest forming positive divergence.
Therefore, our expectations suggest a rise in the (EURGBP) price in its upcoming intraday trading, if the support level settles at 0.8670, to target the key resistance level at 0.8690.
The expected trading range for today is between 0.8660 support and 0.8680 resistance
Trend forecast: Bullish
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The EURJPY pair rose in its last intraday levels, surpassing the negative pressure of the EMA5O, amid the dominance of the main bullish trend on the short-term basis and its trading alongside a bias line, to notice the emergence of the positive signals on the (RSI), reinforcing the bullish track.
Therefore, our expectations suggest a rise in the (EURJPY) price in its upcoming intraday trading, conditioned by the stability of the support level at 171.80, to target the critical resistance at 173.25, preparing to attack it.
The expected trading range for today is between 171.45 support and 173.85 resistance.
Trend forecast: Bullish
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