The price of (silver) declined during its last trading on the intraday basis, with the emergence of the negative signals on the relative strength indicators, after offloading its oversold conditions, opening the way for deepening its intraday losses, amid the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the stability of the bearish corrective trend on the short-term basis.
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The price of (gold) declined in its last intraday trading, approaching form breaking the key support of $4,050, amid the dominance of bearish corrective wave on the short-term basis, affected by breaking main bullish trend line, with the continuation of the negative pressure due to its trading below EMA50, which reduces the chances of the recovery of the near-term basis, especially with the emergence of the negative signals on the relative strength indicators.
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The price of (EURUSD) rose in its last intraday trading, amid its attempts to breach the key resistance at 1.1630, accompanied with its attempts to surpass he negative pressure of the EMA50, increasing the importance of this level, taking advantage of the dominance of the bullish corrective trend on the short-term basis and its trading alongside trendline, with the emergence of the positive signals on the relative strength indicators.
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The EURGBP confirmed the continuation of the bullish scenario, to rally above 0.8685 level that forms an extra support, achieving some gains by reaching the initial barrier near 0.8715.
Providing bullish momentum by the main indicators makes us expect renewing the positive pressures on 0.8715 level by finding an exit for resuming the bullish attempts and achieving extra gains by its rally towards 0.8760 and 0.8785.
The expected trading range for today is between 0.8710 and 0.8760
Trend forecast: Bullish