Silver continued its decline in recent intraday trading, influenced by a negative technical formation on the short-term chart, specifically a rising wedge pattern. The downside pressure persists as the price remains below EMA50 increases the bearish momentum, especially with ongoing negative signals from the relative strength indicators, despite reaching heavily oversold levels.

Gold price declined in its recent intraday trading and is now preparing to break below the $4,700 support level, amid continued negative and dynamic pressure represented by trading below EMA50, reducing the chances of a near-term recovery, especially with ongoing negative signals from the relative strength indicators, despite reaching oversold levels, and following the earlier break of a short-term ascending corrective trendline.

The EURUSD pair kept declining trading in its recent intraday trading, affected by the negative pressure that comes from its trading below EMA50, with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels, to break short-term main bullish trend line, to confirm its bearish momentum in the upcoming period.

Coffee price lost positive momentum in the last trading, which forces it to form new bearish waves, to retest 276.00 support to settle above it, note that the stability above the current support might help it to motivate the bullish corrective attempts, to expect the price rally to 297.00, to extend the trading towards the next obstacle near 312.00.

While facing new bearish pressure and reaching the current support will force it to suffer extra losses by targeting 266.10 and 257.00 level.

The expected trading range for today is between 280.00 and 297.00

Trend forecast: Bullish