GBPUSD attempts to offload its overbought conditions -Analysis-25-04-2025
The GBPUSD declined in its recent intraday trading, in a correctional move that targets catching breaths after an intraday bullish wave, the price attempts to offload the clear overbought condition in the (RSI), easing the way for regaining its positive momentum.
This move comes amid the continuation of the trading above EMA50, which reinforces the chances for its recovery again in its upcoming moves.
Therefore, our expectations suggest the GBPUSD price rise in its upcoming intraday trading, if the price settled at 1.3250 support, to target the key resistance at 1.3420.
The expected trading range is between 1.3250 support and 1.3420 resistance.
Today’s forecast: Bullish
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EURUSD surrenders to the negative pressure-Analysis-25-04-2025
The EURUSD declined in its recent intraday trading, affected by the continuous negative pressure due to its stability below the EMA50, accompanied with a negative technical formation that completed previously on the short-term basis, which is the rising wedge pattern.
Additionally, the emergence of negative overlapping signals on the (RSI), after reaching exaggerated overbought levels compared to the price movement, reinforcing the possibility for the continuation of the oversold pressure and continuing the bearish correctional movement.
Therefore, our expectations suggest the EURUSD price decline in its upcoming intraday trading, if the price remained below 1.1430 resistance, to target the critical support at 1.1290 as a technical target for the rising wedge pattern.
The expected trading range is between 1.1290 support and 1.1430 resistance.
Today’s forecast: Bearish
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Evening update for Bitcoin-24-04-2025
Bitcoin (BTCUSD) reinforced its gains in its last intraday trading, amid the dominance of the main bullish trend on the short- term basis, and trading alongside trendline, with the beginning of forming positive divergence on the (RSI), after reaching exaggerated oversold levels compared with the price current move, and there are positive signals appear from there, which increases the positive momentum on the price movement.
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Evening update for crude oil-24-04-2025
Crude oil price witnessed fluctuated trading on its intraday levels, supported by its trading above the EMA50, with the emergence of the negative signals on the (RSI), and it is affected by a completed negative pattern on the short- term basis(the rising wedge pattern).
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