Forecast update for silver-31-07-2026

Gold prices declined in their latest intraday trading, after breaching the stubborn resistance level at $4,100, accompanied by the emergence of the negative signals from the relative strength indicators after reaching overbought levels, which turned the selling pressure back.

The EURUSD pair declined in its last intraday trading, to gather the gains of its previous rises, attempting to offload its clear overbought conditions on the relative strength indicators, especially with the emergence of negative signals from them, to gather its positive strength that might help it recover and rise again, amid the dominance of bullish corrective wave on the short-term basis, with the continuation of the positive support that comes from its trading above EMA50, reinforcing the chances of near term recovery.

The CADCHF pair touched the 0.5822 level during its latest bullish move. However, a lack of positive momentum prompted a temporary corrective pullback, leading the pair to test the support extending toward 0.5730, where it has managed to stabilize above it. We emphasize the importance of maintaining current trading above this support, as this would increase the chances of gathering positive momentum and subsequently initiating bullish waves targeting 0.5790, followed by further gains toward 0.5845.