Silver price is holding onto its early gains for today, but it is facing negative pressure after reaching the resistance of EMA50. This limits the chances of extending those gains in the near term, especially with the emergence of negative signals from the relative strength indicators after reaching heavily overbought levels, amid the dominance of a short-term bearish trend, with price movements aligned along a minor trendline supporting this downward path.

Gold price witnessed slight gains during its recent intraday trading, as it attempts to build positive momentum that may help it resume its earlier gains for today. At the same time, it is trying to relieve some of its clear overbought conditions indicated by the relative strength indicators, with the emergence of a negative crossover, this comes amid the strong dominance of a short-term bullish corrective wave. However, on the other hand, negative pressure persists due to the price trading below EMA50, which may act as an obstacle if the corrective gains continue.

The EURUSD pair rose during its intraday trading, preparing to reach the solid resistance level at 1.1635, amid the dominance of bullish corrective wave alongside supportive trend line for this path, with the continuation of the positive pressure due to its trading above EMA50, on the other hand, we notice the emergence of negative overlapping signals from relative strength indicators, which might reduce the rise in the near upcoming period.

The CADCHF succeeded in targeting the barrier at 0.5780, to end the bullish corrective scenario, activating with stochastic negativity by reaching 0.5730, to settle near the moving average 55 as appears in the above image.

The stability below the previously mentioned barrier and the continuation of providing negative momentum by the main indicators will increase the efficiency of the negative attack in the near trading, to expect targeting 0.5690 level initially, to press on the barrier at 0.5655.

The expected trading range for today is between 0.5590 and 0.5760

Trend forecast: Bearish