The (USDCAD) price declined in its last intraday trading, amid the emergence of the negative signals on the (RSI), after reaching overbought levels, to break the support of the rising wedge pattern, which is a negative technical formation, reinforcing the possibility for extending the bearish wave its upcoming intraday moves in limited way, hence there is strong dynamic support that is represented by its trading above EMA50.
The (USDJPY) price kept declining in its last intraday trading, to break the key support at 146.00, and settle below it until this moment, as a sign of the strength of the dominant negative momentum, especially with the emergence of the negative signals on the (RSI), which indicates the continuation of the selling pressure.
This decline comes with the price approach from breaking a minor bullish bias on the short-term basis, reinforcing the possibilities for extending the bearish wave, the positive support that comes from the trading above EMA50 remains a factor that limits the current decline, or pushes to a temporary technical rebound before resuming the bearish track.
The (GBPUSD) price continued its sharp decline in its last intraday trading, to confirm forming a new bullish trend line on a short-term basis, taking advantage of breaching the resistance of its EMA50, which formed a dynamic obstacle previously.
This rise was supported by the positive signals on the (RSI), which reinforce the bullish momentum to breach the top of bullish technical formation, that is represented by the falling wedge pattern, which supports the continuation of the bullish wave in the near-term basis, conditioned by holding above the breaching areas.
The price of Bitcoin (BTCUSD) extended its strong gains in its recent intraday trading, to succeed in surpassing the negative pressure of the EMA50, and attacks the minor bearish channel that limited its previous move on the short-term basis, showing a clear dominance for the buying strength and improvement in overall momentum.
The (RSI) began showing negative overlapping signals after entering overbought level, which suggests a potential temporary correctional rebound, that target offloading this condition and gathering the required positive momentum for the continuation of the rise, these declines might be a chance to reposition if the near technical support levels settle.