Gold begins losing the positive momentum-Analysis-02-05-2025
The gold declined slightly in its recent intraday trading, amid the dominance of the bearish correctional trend on the short-term basis and its trading alongside the bias line, with the continuation of the negative pressure due to its trading below EMA50.
The performance of the precious metal comes after leaning on the main support of$,3,200previously, which provided positive momentum that helped it to rebound higher, to recover its previous losses, and it managed to offload some of the clear oversold conditions on the (RSI).
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Crude oil breaches positive technical pattern-Analysis-02-05-2025
The crude oil price rose sharply in its recent intraday trading, to breach the key resistance level ay $58.75, this level represents a neckline for a positive technical formation on the short term basis, which is the inverted head and shoulders pattern, as appears in the above chart for 60 minute time frame, and it succeeded to surpass the negative pressure on the EMA50, reinforcing the positive momentum, especially, with the emergence of the positive signals on the (RSI).
The performance of the precious metal comes after leaning on the main support of$,3,200previously, which provided positive momentum that helped it to rebound higher, to recover its previous losses, and it managed to offload some of the clear oversold conditions on the (RSI).
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EURUSD gets ready to break critical support-Analysis-02-05-2025
The EURUSD declined in its recent intraday trading, affected by a previously formed bearish technical pattern on the short- term basis (the head and shoulders pattern), with the continuation of the negative pressure by its trading below EMA50, to get ready in its last trading to break the critical support at 1.1260, which represents a confirmation key for more of the downside movement.
The price succeeded in offloading some of the oversold conditions on the (RSI), reinforcing the negative overview on the intraday basis, noticing the emergence of negative overlapping signals.
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Evening update for bitcoin -01-05-2025
Bitcoin price continued to rise in its intraday trading, to approach from our target at $97,400, taking advantage of the positive momentum due to its trading above EMA50, under the domination of the main bullish trend on the short-term basis and its trading alongside bias line, on the other hand, we notice the emergence of negative overlapping signals on the (RSI), after reaching overbought levels, which might decelerate the rise of the price.
Our expectations remain positive in case of breaching the resistance at $97,400, targeting the psychological resistance level at$100,000, and there is a big chance for some of the correctional rebounds, if the mentioned resistance settles.
The expected trading range for today is between $95,00 support and $98,400 resistance.
Today’s forecast: Bullish
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