Silver price witnesses fluctuating trading on its recent intraday levels, benefiting from the stability of the support level at $73.00, which provided bullish momentum that helps it recover part of its previous losses, attempting to offload its oversold conditions on the relative strength indicators, especially with the emergence of positive signals from there, as a clear signal for the dominance of the selling powers, especially with the continuation of the negative and dynamic pressure that is represented by its trading below EMA50, which reduces the chances of full recovery in the near upcoming period.

Gold price rose in its recent intraday trading, benefiting from the positive signals emerging on the relative strength indicators, attempting to recover some previous losses, with the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on the short-term basis, with its trading alongside trend line, on the other hand, the relative strength indicators have reached exaggerated overbought levels compared to the price move, in a clear signals for a quick lost for the bullish momentum.

The EURUSD pair kept rising in its last intraday trading, supported by the emergence of positive signals from the relative strength indicators, after reaching oversold levels, attempting to correct the bearish trend on the short-term basis, amid its trading alongside supportive trend line for this path, to reach EMA50’s resistance, threatening these intraday gains, opening the way for potential rebound.

The GBPCHF formed some bullish corrective waves in its last trading, benefiting from the positive momentum by the main indicators, reaching %38.2 Fibonacci correction level at 1.0640, which forms a key barrier against the current trading.

The continuation of the stability below the current barrier will increase the chances of renewing the bearish attempts, to expect targeting 1.0580 which represents the moving average 55, to confirm surpassing it to open the way for reaching extra negative stations that might begin at 1.0550 and 1.0520.

The expected trading range for today is between 1.0580 and 1.0630

Trend forecast: Bearish