The price of (Silver) declined in its last intraday trading, amid its attempts to gain its previous rises, to gain positive momentum that might assist its recovery and begin strong bullish wave, and offloading its overbought conditions on the (RSI), especially with the emergence of the negative signals from there, amid the dominance of the main bullish trend and its trading alongside a minor supportive bias line for the trend, besides the continuation of the positive pressure that comes from its trading above EMA50, reinforcing the stability of the positive scenario.
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The price of (Gold) rose in its last trading on the intraday levels, preparing to attack the current resistance at $3,375, supported by its trading above EMA50, affected by breaching a minor bearish trend line on the short-term basis, reinforcing the stability of the bullish momentum on its near-term basis, on the other hand, we notice the emergence of the negative signals on the (RSI), after reaching overbought levels, reducing the last gains due to its neediness to offload some of this overbought conditions.
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The price of (EURUSD) declined in its last intraday trading, after testing the key resistance level at 1.1730, the stability of the resistance makes the price attempting to offload its clear overbought conditions on the (RSI), especially with the emergence of the negative signals from there, amid a dynamic support that keeps the positivity of the track, and its trading above EMA50, and under the dominance of the bullish correctional trend on the short-term basis and its trading alongside a bias line.
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The GBPCAD formed several bullish waves, taking advantage of its main stability within the bullish channel’s levels that appear in the above image, besides forming extra support by the moving average 55 stability neat 1.8415, recording clear gains by its fluctuation near 1.8700.
Forming an extra support at 1.809%Fibonacci extension level at 1.8645 makes us expect increasing the efficiency of the bullish track, to ease the mission of surpassing 1.8750 to reach the extra positive stations near 1.8835 and 18885.
The expected trading range for today is between 1.8650 and 1.8750
Trend forecast: Bullish