Silver prices remained under pressure during their latest intraday trading session, holding near lower levels as the dominant short-term bearish trend continues to prevail. Price action remains aligned with a downward-sloping trendline that supports this bearish trajectory.

Additional downside pressure is coming from trading below EMA50, which limits the potential for strong bullish rebounds in the near term. However, relative strength indicators began to show a positive crossover after reaching deeply oversold territory, helping silver stabilize and relieve some of the selling pressure.

Gold keeps declining in recent intraday sessions to break$4,200 support, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative and dynamic pressure that is represented by its trading below EMA50, besides the continuation of the negative signals emergence from the relative strength indicators, despite reaching oversold levels, as a signals for the strength of the dominance selling powers on the price.

The AUDCAD confirmed its surrender to the dominance of the bearish corrective trend by its stability below the resistance at 0.9980, forming several bearish corrective waves and approaching the initial target at 0.9775.

We will depend of forming extra barrier at 0.9855 level, note that the continuation of providing negative momentum by stochastic will provide a chance to gather more gains by forming new bearish corrective waves, to target 0.9745 level reaching 0.9685 support.

The expected trading range for today is between 0.9745 and 0.9820

Trend forecast: Bearish

The EURJPY pair benefited from the main indicators’ positivity, keeping their stability above 184.25 support, forming several bullish waves, achieving the initial targets by reaching 185.45.

The positive factors support the chances of resuming the bullish trend by surpassing 185.50 level, reaching 186.00 barrier and surpassing it will ease the mission of reaching new positive stations that begin at 186.65, while the decline below extra support and providing negative close will force it to activate the bearish corrective track, which forces it to suffer several losses by reaching 183.55 and 182.70.

The expected trading range for today is between 184.70 and 185.80

Trend forecast: Bullish