Silver price rose during its recent intraday trading, benefiting from the stability of the important support level at $74.00, which was identified as a target level in our earlier analysis, providing positive momentum that helped achieve those gains, supported by positive signals from relative strength indicators after reaching oversold levels, as the price attempts to recover part of its previous losses. However, a steep short-term corrective bearish wave continues to dominate, while negative pressure persists due to trading below the EMA50, threatening any near-term recovery opportunities.

Gold price posted gains during its recent intraday trading, supported by the emergence of positive signals from relative strength indicators after forming a positive divergence, attempting to recover part of its previous losses.

However, gold remains stable below the key support level of $4,500, signaling the strength of the negative pressure surrounding the price. Bearish pressure also continues as trading remains below the EMA50, reinforcing the stability and dominance of the short-term corrective bearish trend.

The EURUSD pair continues to stabilize within a series of consecutive losses during its recent intraday trading, remaining anchored around the current support level at 1.1590 in preparation for a possible breakdown. The short-term corrective bearish trend remains dominant, with price movements aligned alongside a steep minor downward trendline supporting this bearish path.

Negative pressure continues due to the pair trading below its EMA50, which further reinforces the bearish outlook. On the other hand, relative strength indicators are beginning to show a positive crossover after reaching heavily oversold levels, which may help limit upcoming losses.

The AUDCAD hit resistance the resistance of the bullish channel’s resistance at 0.9952, triggering the start of a corrective bearish scenario by the formation of strong bearish waves and reaching 0.9745.

We expect the formation of 0.9810 as an additional resistance level. With stochastic indicators continuing to provide negative momentum, the price may form further corrective waves, pressuring the 0.9720 level. A break below it could extend losses toward the next support at 0.9685.

The expected trading range for today is between 0.9720 and 0.9800

Trend forecast: Bearish