Silver declined during recent intraday trading, amid the continuation of the negative and dynamic pressure that comes from its trading below EMA50, which prevented the price recovery in the previous period, especially with forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of the negative signals from them, amid the dominance of minor bearish wave on the short-term basis.

Gold declined in its recent intraday trading, to settle below $4,600 indicating the volume of the negative pressure, especially with its trading alongside minor bearish trend on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, which represents dynamic resistance that reduces the chances of full recovery on the near period, noticing the emergence of the negative signals from the relative strength indicators after forming negative divergence.

The EURUSD pair rose in its recent intraday trading, breaching the current resistance at 1.1730, supported by its continued trading above EMA50, affected by exiting bearish corrective channel’s range on short-term basis, despite the emergence of negative signals from the relative strength indicators, after reaching overbought levels, as a clear signals for the strength of the positive momentum.

The EURGBP confirmed the stability of the bearish scenario by providing new closes below the minor bearish channel’s resistance at 0.8700, activating with the main indicators negativity and providing new bearish waves, to settle near 0.8620 level.

Stochastic attempt to reach the oversold level will increase the chances of gaining extra negative momentum, which makes it prefer more negative attempts, which might target 0.8590 level reaching the next main target near 0.8565.

The expected trading range for today is between 1.8590 and 0.8640

Trend forecast: Bearish