The price of (silver) rose carefully to its last intraday levels, attempting to recover some of its previous losses, attempting to offload some of its clear oversold conditions on relative strength indicators, especially with the emergence of positive signals from there, amid the continuation of the dynamic pressure that is represented by its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on the short-term basis.

The price of gold declined in its last intraday trading, after its attempt to offload its clear oversold conditions on relative strength indicators, especially with the emergence of positive signals from them by gaining some bullish momentum due to the stability of $4,800, this support was our expected target in our morning analysis, but it surrendered to the negative pressures, amid the dominance of the bearish corrective trend on short-term basis, with the continuation of the negative pressure due to its trading below EMA50.

The price of EURUSD settles on a decline in its last intraday trading, amid the dominance of steep bearish corrective wave on short-term basis, with the continuation of the negative pressure due to its trading below EMA50, which reduces the chances of sustainable recovery on near-term basis, on the other hand, we notice the emergence of positive overlapping signals from relative strength indicators after reaching oversold levels, reducing its last losses, to witness intraday fluctuations.

The CHFJPY closed the last bullish rally by recording the main target at 202.10, facing a %261.8 Fibonacci extension level, forming strong barrier against the bullish attempts in the current period, which forces it to form some bearish corrective waves, to settle near 201.45.

Note that the continuation of the stability below the current obstacle and stochastic reaching the overbought level will increase the chances of forming new corrective waves, to target 200.75 and 200.00 level, while breaching the barrier and holding above it will confirm its readiness to record new gains that might begin at 202.80.

The expected trading range for today is between 200.75 and 202.10

Trend forecast: Bearish