Silver price declined slightly in its recent intraday trading , after offloading its oversold conditions on the relative strength indicators in its early trading for today, to notice that the indicators reached sever overbought levels compared to the price move, after reaching EMA50, which prevented extending its gains, affected by exiting short- term negative technical formation’s range, which is the rising wedge pattern. 

Gold price keeps its early gains, supported by the emergence of the positive signals from the relative strength indicators, despite reaching exaggerated overbought levels compared to the price move, as a signal for losing this positive momentum quickly, especially with the continuation of the dynamic negative pressure that is represented by its trading below EMA50, affected by breaking bullish corrective trend line on short-term basis, reducing the chances of full recovery on the near-term basis.

The EURUSD pair is experiencing fluctuating trading on its recent intraday levels, affected by the negative pressure that comes from its trading below EMA50, which might reduce the attempts to rise, amid the dominance of the bullish trend on short-term basis with its trading alongside supportive trend line for this track, besides the emergence of the positive signals from the relative strength indicators, after reaching oversold levels.

The CHFJPY reached a %2.00 Fibonacci extension level at 204.20 in its last bullish rally, forming a strong barrier to force it to form some corrective waves by targeting 203.70 level recently.

Note that holding below the main barrier and by stochastic attempt to provide negative momentum by its fluctuation below 50 level, these factors support the chances of forming new bearish waves, reaching 203.60 to attempt to reach the initial support near 203.20.

The expected trading range for today is between 203.20 and 204.20

Trend forecast: Bearish