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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Evening update for crude oil -01-05-2025
Crude oil price witnessed fluctuated trading on the intraday levels, after its rise affected by the stability of the support at 56.70, attempting to offload some of its clear oversold conditions on the (RSI), until retesting the resistance at58.80, to return to the downside against, affected by the negative pressures that remain valid, and the most important is the domination of the main bearish trend.
If the price remains stable below $58.80, so our expectations suggest moving lower, to target the support level at $56.70.
The expected trading range for today is between $56.70 support and $58,80 resistance.
Today’s forecast: Bearish
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Evening update for gold -01-05-2025
The gold price returned to decline in its last intraday trading, after gaining some of the positive momentum from the stability of the main support level at$3,200, which helped it to recover some of its early losses and attempted to offload some of the clear oversold conditions on the (RSI), but the negative pressures remain the dominant.
Our expectations suggest more downside movements in the upcoming trading, in case of breaking the support of $3,200, to target the next support at $3,150.
The expected trading range for today is between $3,150 support and $3,265 resistance.
Today’s forecast: Bearish
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