The (EURUSD) declined in its last intraday trading, after it failed to keep its early gains, to decline below the support of its EMA50, as a negative signal that reinforces the weakness of the bullish momentum.
This decline is accompanied by breaking the critical support at 1.1490, which represents the neckline of the double top pattern, representing a negative technical formation that formed at the end of the bullish trend on the short-term basis, increasing the selling pressures, especially with the pair’s success in offloading its oversold conditions, opening the way towards a potential decline.
The price of Bitcoin (BTCUSD) declined in its recent intraday trading, affected by the negative pressure that comes from its trading below its EMA50, which reflects weakness in the bullish momentum on the short-term basis.
Despite this decline, the price remains moving with the main bullish trend alongside a bias line, indicates the possibility to keep its overall bullish momentum, especially with the continuation of its attempts to look for a higher low to be a new rising point, reinforced by the optimistic signs that come from the (RSI), with the emergence of the positive signals from there, supporting a near rebound and resuming the bullish track.
The (crude oil) witnessed fluctuated trading in its last intraday trading, amid the continuation of the main bullish trend on the short-term basis, which appears by the price move within main and minor bias lines, besides the continuation to trade above its EMA50, providing continued technical support.
On the other hand, there is weakness in the bullish momentum, due to the emergence of the negative signals on the (RSI), after reaching clear overbought levels, which led to fluctuated trading, where the price attempts to offload this overbought condition and gather its strength again to return to its bullish wave, getting stability and support from the technical momentum.
The (Gold) price rose in its last intraday trading, taking advantage of the support of Its EMA50, accompanied by its lean in a bullish correctional trend line on the short-term basis, reinforcing the strength of the bullish rebound and provides extra support for the recovery attempt.
Despite this rise there are negative signs coming from the (RSI) indicate the possibility of the current bullish momentum weakness, which might confine the ability of the price to resume its gains in the upcoming moves, unless it settles in strong bullish areas.