The price of (silver) keeps its early gains on its last intraday levels, retesting previously broken main bullish trend line on short-term basis, amid the continuation of the dynamic pressure that is represented by its trading below EMA50, reducing the chances of sustainable recovery on near-term basis, especially with the relative strength indicators reaching overbought level, exaggeratedly compared to the price move, indicating a quick fading to the bullish momentum.

The price of gold extended its early gains on its last intraday levels, supported by the emergence of positive signals from relative strength indicators, noticing that these indicators have entered overbought levels, exaggeratedly compared to the price move, indicating a quick decline in the bullish momentum, and it retests the previously broken minor bullish trend line, besides the continuation of the negative pressure due to its trading below EMA50, which threatens any current or upcoming gains. 

The price of EURUSD surrendered to negative pressure on its last intraday levels, after it managed to offload some of its oversold conditions, to lose the bullish momentum that helped it to recover some of its previous losses in its early moves, amid the dominance of steep bearish wave on short-term basis, with the continuation of the negative pressure due to its trading below EMA50, reducing the chances of a recovery on near period.

The GBPCHF price activated the bullish corrective trend to end facing the barrier near 1.0665, forcing it to provide weak sideways trading as appears in the above image.

The stability of the current barrier is supported by the stability of the moving average 55 might force the price to renew the negative attempts, to reach 1.0605 then press on 1.0550 support, while regaining the bullish bias requires forming strong bullish rally, to settle above %61.8 Fibonacci extension level at 1.0695.

The expected trading range for today is between 1.0660 and 1.0550

Trend forecast: Bearish