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Silver Prices Near Monthly Low Amid Fed's Hawkish SignalsSilver prices (XAG/USD) are experiencing a significant decline, approaching the $22.00 mark, driven by signals from Federal Reserve (Fed) Chair Jerome Powell and colleagues indicating a willingness to implement additional interest rate hikes in pursuit of a more restrictive monetary policy stance. Jerome Powell's recent statements, affirming the Fed's readiness to raise interest rates further to maintain price stability, contrast with the uncertainties expressed by Fed policymakers Mary Daly and Thomas Barkin, who remain unsure about the necessity of interest rate hikes. Concurrently, apprehensions preceding the release of US inflation data for October have contributed to keeping silver prices subdued. As per expectations, the Core Consumer Price Index (CPI) for the month and year is anticipated to exhibit steady growth at 0.3% and 4.1%, respectively. The US Dollar has strengthened in anticipation of inflation data, with a potential drop in the inflation rate to 2% heightening hawkish sentiments at the Fed. The US Dollar Index (DXY) is striving to surpass the immediate resistance level of 106.00. In European trading, S&P500 futures have recorded additional losses, reflecting a risk-averse market sentiment. The yield on the US 10-year Treasury bond has risen to approximately 4.65%. Technical Analysis of Silver Silver prices continue their downward trajectory post a test of the breakdown of consolidation within the $22.37-23.70 range on the four-hour chart. Short-term demand for the precious metal remains muted as it has dipped below the 200-period Exponential Moving Average (EMA), hovering around $22.70. The Relative Strength Index (RSI) (14) has entered the oversold range of 20.00-40.00, signaling the activation of downward momentum.
TVC:SILVER
by Gwen_Humuna
#XAGUSD: 2nd Entry Possible, big trade coming! Dear Traders, At the beginning of the week and the first hour of trading of Monday, gold and silver price sky rocketed. The reason is many institutional traders took the price high to take their profit out as we approaches the year end. The second thing is the fear that FED will increase the interest rate that means dollar will collapse ultimately this fear led pre session market sentiment to go all in. Moving forward we expect price to fill the liquidity voided area and once filled. Price can continue the drop. Thanks in advance and good luck.
OANDA:XAGUSDLong
by Setupsfx_
2
XAG/USD on the Rise, Sustaining Upward Momentum Silver prices saw a 0.91% increase on Thursday amid low trading volumes as the Asia-Pacific trading session commenced, holding steady around $23.82. There was little change in the early Friday session as markets in Japan and the United States resumed activities following a break. The daily chart for silver illustrates the gray metal's trend as neutral to slightly bullish, remaining close to the weekly high, potentially paving the way for a test of the $24.00 mark. After overcoming a previous hurdle, the next resistance lies at the highest point on June 9, reaching $24.52 before XAG/USD advances to $25.00. Achieving this milestone would solidify the upward trend, marking the highest point year-to-date at $26.12. Conversely, a decline below the November 23rd low of $23.60 may initiate a test of the 200-day moving average (DMA) at $23.32. If sellers push the price below that level, XAG/USD could shift towards a neutral downtrend, indicating the 20-DMA at $23.13, followed by the 50-DMA at $22.75. This potential downward movement signals a cautious market sentiment and warrants careful monitoring in the coming sessions.
TVC:SILVER
by Larissa-Trader
XAG/USD Maintains Uptrend, Buyers Target $24.00Silver prices increased by 0.91% on Thursday, trading around $23.82 as the Asia-Pacific trading session commenced on Friday. The daily chart indicates a neutral to bullish trend, maintaining near weekly highs, setting the stage for a potential test of the $24.00 level. Once surpassed, the next resistance lies at the June 9th high of $24.52 before potentially reaching $25.00. Breaking through these levels would solidify the upward trend, marking the highest point year-to-date (YTD) at $26.12. On the downside, if XAG/USD drops below the November 23rd low of $23.60, it may test the 200-day Moving Average (DMA) at $23.32. Further decline could lead to a neutral to bearish trend, with the 20-DMA at $23.13 and the 50-DMA at $22.75 as potential support levels.
TVC:SILVER
by Larissa-Trader
1
Silver’s rebound space is limited After the short-term trend of silver fell and tested the low near 21.86, it gained support and quickly rebounded upward. The price of silver broke through the downward trend line pressure, but from the perspective of the moving average system, the objective trend has not entered an upward trend. The further rebound space of silver price is limited. It is expected that the rebound of silver price will continue to rebound around 22.60 during the day and will be blocked again. Short at 22.60, stop loss at 22.80, target at 22.20.
OANDA:XAGUSDShort
by Short-term-trading-king
Silver- Will it drop another 1k pips?Since last Friday's high and strong reversal from 23.50, Solver has dropped 1500 pips. Like in Gold's case, bulls were unable to recover some of the losses and XagUsd is consolidating in the support zone at 21. Here we could also have a new leg down after the consolidation and the obvious target for this drop (swing trading) is the next support at 20, so, 1k pips under the current level. I'm bearish as long as the price stays under 21.50 in terms of daily closing.
OANDA:XAGUSDShort
by Mihai_Iacob
11
Silver- will history repeat itself?As I said, before, I usually use XagUsd as a leading indicator for Gold, and more often than not, this is the case. Also recently, although XauUsd made a new low, XagUsd stopped its descent and reversed and on Monday the reversal was very strong, with the price slightly getting back above both the ascending trend line and the horizontal level followed by a clear up break the next day(yesterday) If we look back at March, we could see a similar pattern, we a double false break and strong reversal. With a renewed appetite for precious metals, we can expect price action to act in a similar way. Technically speaking, a false break leads to reversal, and also, the recent bottom is marked by a lot of reversal candles and candle formations. 23.25 is strong confluence support and considering a trade in that zone with a target in the next important resistance a trade with a 1:4 risk: reward could be achieved
OANDA:XAGUSDLong
by Mihai_Iacob
5
XAGUSD I Daily correction and continuation on the weeklyWelcome back! Let me know your thoughts in the comments! ** XAGUSD Analysis - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support!
FXOPEN:XAGUSDShort
by BKTradingAcademy