Silver declined in its latest intraday trading after the important resistance level at $58.80 held, as the price attempts to acquire positive momentum that may help it break this resistance. At the same time, silver is trying to relieve part of its clear overbought saturation on the RSI indicators, especially with the arrival of negative signal inflows. This comes under the dominance of the main short-term ascending trend, with the price moving alongside both primary and secondary trendlines that support this path.

Gold (GOLD) declined in its latest intraday trading as negative signals began to appear on the RSI indicators after reaching overbought levels. This comes while the price attempts to acquire positive momentum that may help it break the pivotal and stubborn resistance level of $4,225, supported by ongoing dynamic strength from trading above its 50-day SMA, which reinforces the dominance of the short-term ascending trend, especially with movement alongside an upward trendline.

The EURUSD pair rose in its latest intraday trading, successfully breaking the important resistance level of 1.1650, which had been our previous price target. This comes as the pair moves alongside a short-term corrective ascending trendline, supported by continued positive momentum from trading above its 50-day SMA. However, we also note that the RSI indicators have reached extremely overbought levels, which may limit the pair’s upcoming gains.

The pair recorded several negative closes below the broken ascending channel support, which now forms an important barrier at 2.0310, increasing the likelihood of activating the previously suggested bearish scenario. The continued delivery of negative momentum by the Stochastic indicator further intensifies downside pressure on current trades, keeping us awaiting the price’s move toward 2.0160. A break below this level would pave the way for the next support, settled at 2.0065.

However, for the price to regain a bullish direction, it would require the formation of strong upward waves that would enable it to stabilize above 2.0400, a level that has consistently acted as a significant barrier to recent trading attempts.

Expected trading range for today: between 2.0160 and 2.0300

Price forecast for today: Bearish