The price of (silver) rose during its last intraday trading, supported by the emergence of the positive signals on the relative strength indicators, to recover some of its previous losses amid the dominance of steep bearish corrective wave on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, besides the relative strength indicators reach exaggerated overbought levels compared to the price move, to indicate the fading of the bullish momentum.
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The price of (gold) declined in its last trading on the intraday basis, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of steep bearish corrective wave on the short-term basis, besides the relative strength indicators reaching exaggerated overbought levels compared to the price move, increasing the negative pressure on the upcoming trading.
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The price of (EURUSD) declined in its last intraday trading, amid the emergence of negative signals on the relative strength indicators, after reaching exaggerated overbought levels, amid the continuation of the negative pressure due to its trading below EMA50, besides the dominance of the bearish trend on the short-term basis, and its trading alongside trendline.
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The GBPCAD reached the extra support level near 1.0605 in its last negative attack, forming strong barrier against the negative attack, which forces it to form mixed trading by its fluctuation near 1.0635.
Note that the main stability within the bearish channel’s levels and by the stability of the main resistance at 1.0675 makes us wait to gather extra negative momentum, which allows it to break the current support and begin targeting extra bearish stations by reaching 1.0570 followed by the support of the bearish channel’s support at 1.0530.
The expected trading range for today is between 1.0650 and 1.0570
Trend forecast: Bearish