Silver continued to fall during recent intraday trading despite positive signals emerging from relative strength indicators after reaching deeply oversold levels, highlighting the dominance of selling pressure over any recovery attempts.
The ongoing decline despite improving momentum indicators is a clear technical sign of the strength of the current downtrend. Price continues to move along a descending trendline and remains below its EMA50, which keeps negative pressure on trading. These factors confirm continued seller control and keep the outlook tilted toward further losses unless stronger reversal signals emerge.
Gold extended its losses during recent intraday trading, breaking $4,100 support level, which was our final downside target, reflecting continued selling pressure and increasing bearish momentum, pushing gold into a new phase of decline.
The drop came after the price eased part of its oversold condition on relative strength indicators, providing room for further downside without any strong signs of a trend reversal. With the main short-term bearish trend still in control, the likelihood of additional losses remains high, especially after the loss of a key support level that had previously limited selling pressure.
EURUSD declined in recent intraday trading after breaking below the 1.1390 support level, our final downside target. The break confirms continued selling pressure and bearish control, amid weak positive momentum.
The pair remains below its EMA50, which continues to support the short-term downtrend. However, relative strength indicators have entered oversold territory, which may slow further losses and allow for a corrective rebound or temporary consolidation before the next move.
Bitcoin witnessed limited gains in its latest intraday trading, due to the stability of the support level at $62,000, providing bullish momentum that supports the price attempt to recover some pf its oversold conditions on the relative strength indicators, especially with the beginning of positive overlapping signals emergence, affected by breaking bullish corrective trend line on the short-term basis.