The price of (silver) rose carefully in its last intraday trading, amid the dominance of the bearish corrective trend on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, intensifying the negative pressure, on the other hand, we notice the emergence of positive crossover on the relative strength indicators, after offloading its overbought conditions, opening the way for achieving more of the gains in the upcoming period.
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The price of (gold) rose in its last intraday trading, amid the stability of the key support at $3,950, in attempt to offload its oversold conditions on the relative strength indicators, especially with the emergence of the positive signals, amid the continuation of the negative pressure that comes from its trading below EMA50, reducing the chances of the price’s recovery on the near-term basis, under the dominance of the bearish corrective trend on the short-term basis.
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The price of (EURUSD) witnessed fluctuated trading on its last intraday levels, after the rise of its early trading, in attempt to offload some of the oversold conditions on the relative strength indicators, especially with the emergence of the positive signals, reaching the resistance of its EMA50, putting it under intensified negative pressure due to the dominance of the main bearish trend on the short-term basis and its trading alongside trendline.
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The EURNZD suffered strong bearish pressures in the last period trading, which forces it to form corrective waves, approaching the support of the main bullish channel’s support at 2.0050.
The stability above the previously mentioned support makes us wait for gathering positive momentum, which allows it to begin forming new bullish waves to reach 2.0170 then press on the barrier near 2.0245, while the price’s surrender to the negative pressures and reaching below the main support will confirm its move to the bearish track, which force it to suffer big losses by reaching 1.9995 and 1.9915 initially.
The expected trading range for today is between 1.0063 and 1.0170
Trend forecast: Bullish
