Crude oil keeps declining -Analysis-01-05-2025
Crude oil continued its strong decline in its last trading on the intraday levels, to break the support level at $58.80 and settle below this level as a signal for confirming breaking it, which suggests the extension of the bearish wave soon.
This sharp negative performance within the price stability under the domination of the main bearish trend on the short-term basis and alongside a bias line, accompanied with the trading below EMA50, which reinforces the strength of the bearish trend, the continuation of the bearish signals on the (RSI) decelerates the negative pressures, despite its stability within exaggerated oversold levels.
Therefore, our expectations suggest the continuation of the price decline in the upcoming intraday trading, especially if the price settles below $58.80, to target the critical support level at $56.70.
The expected trading range is between $56.70 support and $58.80 resistance.
Today’s forecast: Bearish
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Gold declines -Analysis-01-05-2025
Gold price declined sharply in its last trading on the intraday levels, after the increase of the negative technical pressures that exhausted it and pushed it to suffer more losses, the decline came because of the selling pressure that was caused by its trading below EMA50.
This decline led to breaking a minor bullish trend line on the short-term basis, which represented extra negative signal for losing a big portion of its previous positive momentum and provided confirming signal for the continuation of extended bearish correctional wave.
Therefore, our expectations suggest more of the downside moves in the upcoming intraday trading, if the price settles below $3,300, to target the support level at $3,200.
The expected trading range is between $3,200 support and $3,300 resistance.
Today’s forecast: Bearish
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EURUSD breaks the neckline of a head and shoulders pattern -Analysis-01-05-2025
The (EURUSD) price continued it downside moves in its last trading on the intraday levels, recording clear negative performance that indicates the continuation of the dominance selling pressure on the price recently.
This bearish action comes with a bearish correctional wave that dominates the price move on the short -term basis, amid the continuation of its trading below EMA50. Forming a negative technical formation – the head and shoulders pattern-increased the pressure on the price in the last trading, which represents a confirming signal for a potential return for the downside, especially with the emergence of the negative signals on the (RSI), despite its stability in sever oversold levels.
Therefore, our expectations suggest more of the downside moves in the upcoming intraday trading, to target the initial support level at 1.1260.
The expected trading range is between 1.1260 support and 1.1370 resistance.
Today’s forecast: Bearish
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Evening update for bitcoin-30-04-2025
Bitcoin price rose in its last intraday trading, affected by the stability of the key support at$93,000, which provided a positive momentum that helped it to recover some of its early losses, amid the dominance of the main bullish trend and its trading alongside the bias line on a short-term basis.
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