Silver rose in its latest intraday trading, supported by the emergence of the positive signals from the relative strength indicators, after forming positive divergence that provided this momentum. The price remains affected by the negative pressure due to its trading below EMA50, representing dynamic resistance that reinforces the strength and stability of the main bearish trend on the short-term basis, especially with its trading alongside supportive trend line for this path.

Gold rose in its last trading on the intraday basis, attempting to recover some of the previous losses, attempting at the same time to offload its oversold conditions from the relative strength indicators, especially with the emergence of the positive signals from them, amid the continuation of the negative pressure that comes from its trading below EMA50, which reduce the chances of full recovery in the near upcoming period, especially with the dominance of the main bearish trend.

The EURUSD pair achieved limited gains at its last intraday levels, as it leans on 1.1390 support level, which was a potential target in our morning analysis for today, proving bullish momentum that helped the price in its attempt to recover some of its early losses, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative pressure that come from its trading below EMA50, with the emergence of the negative signals from the relative strength indicators.

The EURGBP surrendered to the dominance of the bearish bias by providing a new negative close below the main bearish channel’s resistance at 0.8685, forming sharp decline and holding near the target at 0.8615.

The continuation of providing negative momentum by the main indicators makes us expect achieving a break to 0.8600 level, to open the way towards more negative stations by reaching 0.8585 initially, reaching the next support at 0.8565.

The expected trading range for today is between 0.8585 and 0.8630

Trend forecast: Bearish