Silver declined during recent intraday trading, approaching a break below $65.00 support level, which had previously been identified as a potential downside target within the current bearish trend. This performance reflects weak buying momentum and the market’s inability to build a recovery strong enough to reverse the negative trend.
Pressure on silver continues to increase as relative strength indicators generate bearish signals, while the price remains below its EMA50, which continues to act as dynamic resistance against any upward attempts. With the primary short-term downtrend still in control, the likelihood of further declines remains high, particularly if the price breaks and closes below current support.
Gold extended its losses during recent intraday trading, reaching $4,200 support that represented our expected final downside target within the current bearish trend. This decline reflects continued selling pressure and the dominance of sellers over price action.
The negative technical outlook remains intact as gold continues to trade below its EMA50, which is acting as dynamic resistance and reinforcing the short-term downtrend. Relative strength indicators also continue to generate negative signals, suggesting that selling pressure remains active and reducing the likelihood of a strong rebound in the near term.
The EURUSD pair fell during its latest intraday trading, continuing to move along a short-term bearish trendline, reflecting the ongoing dominance of selling pressure on the pair, while recovery attempts continue to lack sufficient momentum to reverse the current trend.
Technical pressure is increasing as the pair remains below its EMA50, which continues to act as dynamic resistance against any upward attempts. At the same time, relative strength indicators support the bearish outlook after forming a negative divergence and beginning to generate bearish signals, reinforcing the likelihood of further declines and additional losses in the near term.
Bitcoin (BTCUSD) continued the decline during its recent intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, with the emergence of the negative signals from the relative strength indicators, after reaching overbought levels, and the main bearish trend remains dominant on the short-term trading.