Fundamentals & technicals' very supportive of Silver
A quick one on silver, I got long on Friday as a disclosure, the 4hr chart is converging and diverging and this opposing force will cause a squeeze that will launch Silver into an explosive momentum to test its highs soon, perhaps $40.
No less than 9 different divergences at Fridays candle here. (It was messy with the div. indicator. )
Further confluence on the 4hr is the recent cross of the 10ema up and through the 200ema. To be be fair the 10 dipped on about 28 Feb but to make the cross recently back over the 200 is a big play.
President Trump is of course very pro-cryptocurrency and popular wisdom says the next leg up in that space is the meeting for 'strategic reserve' which I understand is only a fortnight away.
I think Gold and Silver will take off around that time, if not sooner. A bullish week coming up for the Gold price as well and it revolves around the same opening headline above.
Have a happy and profitable week.
Riskmanage
AUDCHF is on fire next week. The good type of fire.This week we saw the groundwork set for an AUDCHF longs revival trade.
We now have a nice cross-up of the MACD line up on the Signal line. For longs these are the best x-ups when they occur below the Zero-line like in all the examples in the following daily chart.
These can make huge moves and gains lasting days, weeks or even months but they do not necessarily constitute a trend reversal. When other confluence is confirmed such as divergences, moving averages providing price support, and MA's cross-ups they work out much better.
Another one I am monitoring that I think will be huge but not quite yet is AUDCAD.