Silver price declined during recent intraday trading as it approaches a break below the key support level at $74.00, amid the continued dominance of the short-term bearish corrective wave, reflecting weak buying momentum and ongoing selling pressure on price action.

This comes as silver continues trading below EMA50, reinforcing the negative dynamic pressure surrounding the price, especially with negative signals emerging from the relative strength indicators, which may push the price toward further declines if the current support level is confirmed broken in upcoming trading.

Gold price declined during recent intraday trading after breaking $4,500 key support level in yesterday’s session. Selling pressure continued, pushing the price toward the $4,400 support before a limited rebound appeared, supported by improving momentum and attempts to reduce oversold conditions on the relative strength indicators.

Despite this temporary rebound, negative pressure returned amid the continuation of the short-term bearish trend, with gold still trading below EMA50, limiting recovery chances in the near term.

The EURUSD pair declined during its recent intraday trading after failing to break above the key and stubborn resistance at 1.1660, pushing the pair into a new bearish wave, especially after breaking the support of EMA50, which increased the negative pressure in the short term.

This comes with negative signals emergence from the relative strength indicators, reflecting the continued weakness in positive momentum and the dominance of the bearish corrective trend over current trading, which may keep selling pressure unless the pair succeeds in reclaiming important resistance levels during its upcoming moves.

Coffee price surrendered to the negative pressures by providing a new negative close below the broken support level at 277.00, suffering some losses by reaching 264.45 level.

Gathering the negative momentum is important to renew the bearish attempts, which might target 256.10 level, reaching the next main target at 233.30, while the attempt of regaining the bullish trend requires forming a strong bullish rally to settle above 294.65.

The expected trading range for today is between 256.10 and 280.00

Trend forecast: Bearish