Silver continued to decline during its latest intraday trading sessions, breaking below the key support level of $63.00. This support level was one of our previously projected downside targets.

The metal remains under the control of the primary short-term bearish trend, moving along a downward-sloping trendline that supports this trajectory. Negative pressure also persists as silver continues to trade below EMA50. On the other hand, a positive crossover is beginning to emerge on the relative strength indicators after they reached deeply oversold territory, which may help slow the pace of losses in the near term.

Gold continues its series of losses during its latest intraday trading sessions, reaching the $4,100 support level, which had been one of our previously projected downside targets.

The metal remains under negative pressure as it continues to trade below EMA50, reinforcing the stability and dominance of the primary short-term bearish trend. In addition, negative signals from the relative strength indicators continue to support the bearish trend.

The EURUSD pair extended its losses during its latest intraday trading, confirming a break below the 1.1430 support level. The pair remains under pressure from the prevailing short-term bearish trend, with negative momentum continuing as prices trade below EMA50, despite the relative strength indicators remaining deeply oversold, a condition that has so far failed to trigger any meaningful rebound, highlighting the strong dominance of sellers in the market.

The CHFJPY pair maintained its negative stability below the current resistance level represented by 200.65, strengthening the effectiveness of the previously suggested bearish path. The pair is currently trading near the 199.75 level.

We note that the positioning of the 55-period moving average above the current trades, along with the Stochastic indicator attempting to move toward the oversold zone, will increase the chances of the price gathering negative momentum. This would facilitate the move toward bearish targets, which may begin at 198.80 and then 198.10 respectively.

The expected trading range for today is between 198.80 and 200.10

Trend forecast: Bearish