The price of (silver) deepened its losses in its last intraday trading, amid the continuation of the negative pressure that comes from its trading below EMA50, breaking the bullish trend line on the short-term basis, intensifying the negative pressure, especially with the emergence of negative signals on the relative strength indicators, despite reaching oversold levels.

The price of (Gold) witnessed fluctuated in its last intraday trading, due to its lean on the support line of minor bullish trend line on the short-term basis, gaining some of the bullish momentum that helped it to rise slightly, facing the negative pressure that comes from its trading below EMA50, besides the emergence of the negative signals on the relative strength indicators.

The price of (EURUSD) slipped lower in its last intraday trading, due to the stability of the resistance at 1.1540, amid the dominance of the main bearish trend and the trading alongside minor trend line on the short-term basis, with the beginning of forming negative divergence on the relative strength indicators, after reaching exaggerated overbought levels compared to the price move, with the emergence of the negative signals from there.

The EURGBP rose cautiously in its last trading, to hit the resistance of its EMA50, in attempt to offload some of its clear oversold conditions on the relative strength indicators, with the emergence of positive overlapping signals, affected by breaking bullish trend line on the short-term basis, intensifying the negative pressure on the pair, reinforcing the chances of the price decline on the near-term basis.

Therefore, our expectation suggests a decline in EURGBP’s last intraday trading, if the resistance settles at 0.8825, to target the key support at 0.8795.

The expected trading range for today is between 0.8795 and 0.8830

Trend forecast: Bearish