The price of (silver) keeps its early gains for today, despite reaching EMA50’s resistance, accompanied by testing minor bearish trend line on short-term basis, besides the attempts of offloading the clear overbought conditions on relative strength indicators, especially with the emergence of negative signals from there, on the other hand, we notice consecutive gains in the recent period, which suggest reaching this area to get rid of the negative pressures.

The price of gold fluctuated on its last intraday levels, amid the stability of the key and psychological resistance at $5,000, with the continuation of the negative pressure due to its trading below EMA50, reinforcing the importance of this area to detect the upcoming track on short-term basis, with offloading its overbought conditions on relative strength indicators without affecting the performance of the price, which represents clear indicators for its bullish momentum.

The price of EURUSD declined in its last intraday trading, and it attempted to offload its oversold conditions on relative strength indicators, however the selling pressure is stronger, with the dominance of the bearish corrective trend on short-term basis, with its trading alongside supportive trend line, with the continuation of the negative pressure, due to its trading below EMA50, reducing the chances of near-term recovery.

The CHFJPY benefited by the repeated stability above the bullish channel’s support at 198.05 level, activating the bullish attack, to record several gains by reaching 200.85 attempting to settle above %50 Fibonacci correction level.

Providing bullish momentum by the main indicators will support our bullish expectation, to keep waiting for the price to reach $61.8Fibonacci correction level at 201.30, which might form an important obstacle against the bullish attempts, to push the price to provide mixed trading before breaching this barrier.

The expected trading range for today is between 199.85 and 201.30

Trend forecast: Bullish