The price of (silver) declined in its last trading on the intraday levels, affected by the negative pressure due to its trading below EMA50, which led it to break bullish corrective trend line on short-term basis, intensifying the negative pressure in the upcoming period, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels.

The price of gold is experiencing fluctuating trading on its last intraday levels, leaning on $5,100 support level, gaining some bullish momentum that helps it to settle against the negative pressure that comes from its trading below EMA50, affected by breaking minor bullish trend line on short-term basis, attempting to offload its clear oversold levels on the relative strength indicators, especially with the emergence of the positive signals.

The price of EURUSD continued to decline in its last intraday trading, to reach 1.1465 support, which represents an expected target in our previous analysis, despite the emergence of positive signals from relative strength indicators, after reaching oversold levels, in attempt to offload this oversold conditions, forming a clear signal for the dominance of the selling pressures on the price movement, amid the dominance of the main bearish trend on short-term basis, with its trading alongside minor trend line.

The CHFJPY ended its bullish rally by reaching 204.00 level, to form an intraday barrier against the bullish attempts, forcing it to form temporarily corrective rebound, to settle near 202.25.

Note that the main stability within the bullish channel’s levels and the attempt to form extra support at 201.25 level, these factors makes us wait for gathering positive momentum that will allow it form new bullish rally, to press on the barrier, and if it manages to surpass this level, it will record extra gains that might begin at 204.65 and 205.00.

The expected trading range for today is between 201.85 and 204.00

Trend forecast: Bullish