Silver surrendered to the negative pressures on its latest intraday levels, surpassing EMA50’s support, reducing the chances of the recovery in the near upcoming period, amid the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line, besides the emergence of the negative signals from the relative strength indicators, after offloading some of its oversold conditions, opening the way for recording more losses in the near upcoming period.

Gold slipped lower in its last intraday trading, amid dominance of the main bearish trend on the short-term basis, with its trading alongside supportive minor trend line for this trend, surpassing EMA50’s support, intensifying the likelihoods of extending these losses in the near upcoming period, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels.

The EURUSD pair witnessed fluctuated trading at its last intraday levels, affected by the positive signals that comes from the relative strength indicators, after forming positive divergence that helps the price to settle against the negative pressures that are represented by surpassing bullish corrective channel’s range that limited its previous trading on the short-term basis, and it surpassed EMA50, intensifying the negative pressure in the near upcoming period.

The EURNZD continued providing negative closes below the barrier at 2.0206, forming some bearish waves, attempting to settle below %50 Fibonacci correction level at 2.0060 to confirm its readiness to activate the negative trend by reaching 1.9980.

Gathering extra negative momentum makes us expect to attack the moving average 55 near 1.9910 and surpassing it will confirm the continuation of the negative scenario by targeting extra negative stations that might begin at 1.9865 and 1.9795. 

The expected trading range for today is between 1.9910 and 2.0060

Trend forecast: Bearish