The price of (silver) declined during its last trading intraday trading, to lean on the key support at $45.90, which represents our expected target, amid the dominance of the bearish corrective trend on the short-term basis, and its trading alongside supportive trendline, with the continuation of the negative pressure that comes from its trading below EMA50, besides offloading its oversold conditions on the relative strength indicators, intensifying the negative pressures.
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The price of (gold) deepened its losses in its last intraday trading, breaking $3,950 support, this support represents our target in our previous analysis, amid the dominance of bearish corrective wave and its trading alongside steep trendline, indicating the strength and the stability of the negative track, especially with the emergence of the negative signals on the relative strength indicators, despite reaching oversold levels.
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The price of (EURUSD) rose with difficulty in its last intraday trading, with the emergence of the negative signals on the relative strength indicators, after reaching overbought levels, to attempt to offload this overbought conditions, which reduced the last gains amid the continuation of the positive support due to its trading above EMA50, and under the dominance of the bullish corrective trend on the short-term basis and its trading alongside trend line that reinforces the stability of this track.
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The GBPCAD formed bearish corrective trading after recording the target at 1.8890, reaching 1.8600 to face the moving average of 55, which forms an extra support against the bullish trading.
The main stability within the bullish channel’s levels and stochastic attempt to provide positive momentum by its exit from the oversold level will increase the chances of activating the bullish attack, to expect its rally towards 1.8775 then repeats the pressure on 1.8890 barrier.
The expected trading range for today is between 1.8645 and 1.8770
Trend forecast: Bullish