Silver price witnessed slight and cautious gains in its recent intraday trading attempting to reover some previos losses and offloading some of its clear oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from them, amid the dominance of steep bearish correction wave on the short-term, with the continuation of the negative and dynamic pressure that is represented by its trading below EMA50, which reduces the chances of full recover on the near-term basis.

Gold price settles on sharp losses during its latest intraday trading, to break $4,400 support, which represented a morning expected target, with the continuation of the negative pressure that comes from its trading below EMA50, with the dominance of the main bearish trend on the short-term basis and its trading alongside minor supportive trend line for this path, noticing the emergence of negative signals from the relative strength indicators, after offloading its oversold conditions, opening the way for recording more losses in the near upcoming period.

The EURUSD pair rose during its recent intraday trading, due to the stability of the key support level at 1.1590, gaining some bullish momentum that helped it recover some previous losses, attempting to offload some of its clear oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from them, amid the dominance of the bearish corrective trend on short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, keeping the negative overview unless it witness clear reversal signals in the upcoming near period.

The AUDCAD remains stable until this moment below the resistance level at 0.9960, to increase the chances of activating the bearish corrective trend, reaching towards 0.9840.

The attempt of Stochastic to exit the overbought level will increase the negative pressure in the current period, to keep preferring the corrective attempts, which might target 0.9760 level reaching the next support at 0.9675 level.

The expected trading range for today is between 0.9760 and 0.9900

Trend forecast: Bearish