Silver declined slightly during its recent intraday trading, as part of a brief pause to catch its breath, during which the price is taking profits. It is also attempting to gain positive momentum that may help it recover and rise again. At the same time, it is working to ease its clear overbought condition indicated by the relative strength indicators, especially with the beginning of a negative crossover, which may give it more room to extend its earlier gains later.

This comes as the price continues to benefit from dynamic support by trading above the EMA50, which enhances the stability of a short-term corrective bullish wave, particularly as it moves along a supportive trendline.

Gold declined during recent intraday trading, affected by the firmness of the key resistance level at $4,800. The price is taking profits from previous gains and attempting to build positive momentum that may help it break through this resistance. At the same time, it is trying to ease its clear overbought condition shown by the relative strength indicators, especially with the beginning of a negative crossover appearing on it.

This comes while a short-term corrective upward trend still dominates, along with continued dynamic support as the price trades above EMA50, which enhances the chances of a rebound in the near term.

The (EURUSD) is experiencing fluctuating move in its latest intraday levels, attempting to gather the gains of its previous rises, and attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from there, to gather its positive strength that might help it to resume its early gains for today, amid the continuation of the positive support that comes from its trading above EMA50, reinforcing the stability and dominance of the bullish corrective trend on short-term basis.

The GBPAUD ended the last bullish corrective rally by providing negative close below the 1.9525 level, affected by the negativity of the main indicators by forming new bearish waves, to settle near 1.8985.

Forming extra barrier at 1.9090 level and the continuation of providing negative momentum by the main indicators makes us expect continue providing negative trading, to attempt to reach 1.8840, to repeat the pressure on the support level near 1.8670.

The expected trading range for today is between 1.8840 and 1.9050

Trend forecast: Bearish