Silver declined in its latest intraday trading, with the dominance of the main bearish trend on the short-term basis, with the emergence of the negative signals from the relative strength indicators, after offloading its oversold conditions, increasing the negative pressure on the price, on the other hand, the chance of the recovery remains valid if its settles above EMA50, which represents dynamic support that provides renewed bullish momentum.

Gold rose slightly in its last intraday trading, amid the emergence of the negative signals that comes from the relative strength indicators, attempting to gain bullish momentum that might help it to recover and rise, amid the dominance of bullish corrective wave on the short-term basis, affected by positive technical formation that comes from the short-term basis, that is represented by double bottom pattern, benefited from the positive support due to its trading above EMA50, reinforcing the chances of the price recovery in the near upcoming period.

The EURUSD pair rose in its last intraday trading, after its attempts to offload some of its overbought conditions on the relative strength indicators in early moves for today, gathering its positive strength that might help it to recover and rise again, amid the continuation of the positive support that comes from its trading above EMA50, reinforcing the strength and stability of the bullish corrective trend on the short-term basis.

The EURGBP continued forming negative trading due to its stability within the bearish channel’s levels, breaking the extra support at 0.5865, to open the way for resuming the decline by its stability near 0.8540.

Note that the continuation of providing negative momentum by the main indicators, specifically by the stability of stochastic within the oversold levels will support the continuation of the negativity, to expect reaching the bearish channel’s resistance at 0.8515, as breaking it will confirm its move to a new bearish phase to expect a decline towards 0.8485 initially.

The expected trading range for today is between 0.8515 and 0.8560

Trend forecast: Bearish