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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Evening update for crude oil-30-04-2025
Crude oil price declined sharply in its last intraday trading, to break the current support of $58.80, amid the domination of the main bearish trend and its trading alongside trend line, with the continuation of the negative pressure due to its trading below EMA50.
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Evening update for gold-30-04-2025
Gold price rose in its last intraday trading, affected by the stability of the support level at $3,290, supported by the emergence of the positive signals on the (RSI), after reaching sever oversold levels, which helped us to achieve the last gains. breaking a minor bullish trend line on the short-term basis on the pair’s previous trading, affected by the continuous negative pressure due to its trading below EMA50.
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