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SILVER / US DOLLAR GRAMSILVER / US DOLLAR GRAMSILVER / US DOLLAR GRAM

SILVER / US DOLLAR GRAM

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XAGUSDG trade ideas

#Silver bearish counter trend opportunityAs seen in the chart, silver has formed a 5-wave bullish impulsive move and has since begun a bearish move, which could be labeled as wave A. As we know, corrective waves typically occur in three waves. I believe we are nearing the completion of wave B, which could lead to another bearish leg to complete wave C. This entire 3-wave bearish move could then form wave 2 of 5 on a higher degree. Therefore, while we might be looking at a short-term bearish move, according to Elliott Wave theory, there is still significant bullish potential in the coming weeks.
TVC:SILVERShort
by mohemati
#Silver near the end of wave 3 of 5 of 3 From an Elliott Wave perspective, it appears that the price has formed wave 3 in an impulsive bullish move. Therefore, we can anticipate a bearish corrective move to complete wave 4. Based on the principle of alternation, since wave 2 was a sharp correction, wave 4 could potentially be a more prolonged, time-consuming corrective phase. This suggests that the upcoming wave 4 correction may develop as a more complex or sideways movement before resuming the uptrend for wave 5. It's important to note that bullish move is still on. However, we may now see a bearish corrective move.
TVC:SILVER
by mohemati
1
XAGUSD View!!Front Month Comex Silver for October delivery lost 60.80 cents per troy ounce, or 1.89% to $31.520 this week Largest one week net and percentage decline since the week ending Sept. 6, 2024 Snaps a four week winning streak Today it is up 51.50 cents or 1.66% Up for three consecutive sessions Up $1.165 or 3.84% over the last three sessions Largest three day dollar and percentage gain since Thursday, Sept. 26, 2024 Off 2.13% from its 52-week high of $32.205 hit Monday, May 20, 2024 Up 42.65% from its 52-week low of $22.096 hit Tuesday, Feb. 13, 2024 Rose 38.69% from 52 weeks ago
OANDA:XAGUSDShort
by FXBANkthe8055
#XAGUSD 4HXAG/USD (Silver vs. US Dollar) pair on the 4-hour chart is showing a support pattern, indicating that the price is holding firm at a particular level, suggesting a potential bullish reversal. Pattern Description: The market seems to have established a solid support level, where downward momentum is being halted. After a period of selling pressure, the price has tested and bounced off this support zone multiple times, signaling that buyers are stepping in to defend this level. This consistent defense suggests that a reversal might be imminent, as the market sentiment shifts from bearish to bullish. Forecast: Given the strength of the support level, the current outlook is bullish, with a potential move to the upside. The price is likely to break higher as buying momentum gathers strength. This makes it a favorable opportunity to buy, targeting the next resistance levels. However, it's important to keep an eye on any additional price action and volume confirmation before entering the trade. Key Indicators: - Strong support - Price consolidating near support, indicating indecision before a potential breakout. - RSI and other momentum indicators suggest oversold conditions, supporting the bullish forecast. Recommendation: Consider entering a buy position near the support level, with a stop-loss placed just below the support zone to manage risk effectively. Potential price targets could be set at key resistance areas above.
OANDA:XAGUSDLong
by PIPSFIGHTER
XAGUSD Analysis: Slightly Bearish Bias on October 11, 2024The XAGUSD (Silver to US Dollar) pair is expected to show a slightly bearish bias on October 11, 2024, as several fundamental factors and current market conditions weigh on silver prices. For traders and investors looking to make informed decisions today, it’s important to understand the key drivers influencing this precious metal. Key Fundamental Drivers: 1. Stronger US Dollar: - The US Dollar has shown some strength following slightly positive economic data releases, particularly in US jobless claims and PPI (Producer Price Index) figures, which came in higher than expected. A strong US Dollar generally pressures commodity prices, including silver, as it becomes more expensive for holders of other currencies to buy dollar-denominated assets. 2. Federal Reserve’s Hawkish Stance: - Although the Federal Reserve has hinted at a potential pause in interest rate hikes, its overall stance remains hawkish. Comments from Fed officials about maintaining elevated interest rates to control inflation are causing investors to shy away from non-yielding assets like silver, which does not offer interest or dividends. Higher interest rates increase the opportunity cost of holding silver, adding to bearish sentiment. 3. Weakening Demand for Safe-Haven Assets: - While geopolitical risks, particularly in the Middle East , continue to simmer, the demand for safe-haven assets like silver has not spiked significantly. Market sentiment appears to be stabilizing after recent volatility, causing investors to shift their focus back to riskier assets, which dampens the appeal of silver as a hedge against uncertainty. 4. Industrial Demand Outlook: - Silver’s dual role as a precious metal and an industrial commodity adds complexity to its price movements. Concerns over a slowdown in global industrial activity, particularly from key consumers like China, are weighing on silver prices. The outlook for industrial demand has weakened, with recent reports pointing to sluggish manufacturing data, further reinforcing the bearish bias for XAGUSD. Current Market Sentiment: - Technical Analysis: - XAGUSD is currently trading near $22.50, a key psychological support level. A break below this level could open the door for further downside movement, with the next potential target being the $22.00 mark. - RSI on the 4-hour chart is trending below 50, indicating bearish momentum. The price action shows that silver is struggling to maintain any significant upward momentum, aligning with the overall bearish bias for the day. - Moving Averages: XAGUSD remains below its 50-day moving average, signaling a bearish trend continuation. Traders are likely to view any rallies as selling opportunities, particularly near the $23.00 resistance level. - Market Sentiment: - The overall sentiment in the silver market is leaning bearish, as traders remain cautious about the potential for further downside risk in the near term. The strength of the US Dollar and lackluster industrial demand for silver are key contributing factors to this sentiment. Conclusion: In summary, the XAGUSD pair is likely to maintain a slightly bearish bias today, as the stronger US Dollar, a hawkish Fed, and weakening industrial demand weigh on silver prices. Traders should keep an eye on key technical levels, as a break below critical support zones could trigger further selling pressure. The fundamental outlook for silver remains subdued, with few catalysts for a bullish recovery in the short term. Keywords for SEO Optimization: - XAGUSD analysis - XAGUSD forecast - Silver price forecast - Silver to USD analysis - Silver market outlook - US Dollar impact on silver - Federal Reserve rate hike impact - Silver technical analysis - Precious metals trading strategy - Industrial demand for silver - Silver market trends This XAGUSD analysis provides a comprehensive overview of today’s slightly bearish outlook for silver , giving traders insights into the key drivers influencing the market. Stay updated on forex trading and precious metals market analysis for better trading opportunities.
OANDA:XAGUSDShort
by PERFECT_MFG
Bearish Bias Amid Stronger USD and Global Uncertainty on Silver.On October 10, 2024, the XAGUSD (Silver to USD) pair is likely to experience a slight bearish bias due to a combination of fundamental factors and current market conditions. For traders focusing on the silver market, today’s trading session will be influenced by several key economic drivers that point to a possible decline in silver prices. Key Drivers Supporting XAGUSD Bearish Bias: 1. Strengthening US Dollar on Hawkish Fed Expectations The US Dollar continues to show strength amid renewed expectations that the Federal Reserve may resume its hawkish monetary policy stance. Recent US economic data, particularly stronger-than-expected employment and manufacturing figures, have led to speculation that the Fed might hike interest rates further to control inflation. As the USD strengthens, precious metals like silver tend to weaken due to their inverse relationship. Keywords: US Dollar strength, hawkish Fed, Federal Reserve interest rate hikes, USD impact on silver, XAGUSD weakness 2. Rising US Treasury Yields Pressuring Silver With US Treasury yields climbing to new highs, investor preference for higher-yielding assets like bonds is reducing the appeal of non-yielding assets such as silver. As yields rise, silver tends to become less attractive as a safe-haven investment, contributing to the bearish outlook for XAGUSD. Traders are closely monitoring US 10-year Treasury yields, which have been a key pressure point on precious metals. Keywords: US Treasury yields, silver price pressure, XAGUSD bearish, rising yields impact on silver, bond market vs silver 3. Weak Industrial Demand for Silver Silver is not just a precious metal; it also has significant industrial demand. However, recent global economic data points to a slowdown in manufacturing activity, especially in key markets such as China and Europe. This has dampened industrial demand for silver, which is heavily used in electronics, solar panels, and other industrial applications. The reduced demand from these sectors is weighing on silver prices, contributing to the bearish outlook. Keywords: silver industrial demand, manufacturing slowdown, XAGUSD industrial use, silver vs manufacturing, China silver demand 4. Geopolitical Uncertainty and Safe-Haven Flow into Gold While silver is often viewed as a safe-haven asset, it has been overshadowed by gold in recent months due to heightened geopolitical uncertainty. Investors seem to be flocking more towards gold as a safer alternative, leaving silver lagging behind. The geopolitical tensions in Europe, Middle East, and other regions have added to this trend, reducing the safe-haven demand for silver. Keywords: geopolitical uncertainty, silver vs gold, XAGUSD safe-haven demand, gold outshines silver, silver price drop Technical Outlook for XAGUSD From a technical perspective, XAGUSD has struggled to break above key resistance levels around $23.50. The Relative Strength Index (RSI) indicates that the market is leaning towards the overbought territory, signaling potential downside momentum. If silver fails to maintain support at $23.00, a decline towards the $22.50 level could materialize, confirming the bearish bias for the day. Keywords: XAGUSD technical analysis, silver price support, XAGUSD RSI, XAGUSD resistance levels, silver price trend Conclusion In light of the strengthening US Dollar, rising US Treasury yields, weaker industrial demand, and safe-haven flows favoring gold over silver, the outlook for XAGUSD remains slightly bearish today. While silver may find some temporary support from short-term safe-haven buying, the overall market sentiment points towards a bearish bias for the session. Traders should be cautious of upcoming US inflation data, as it could introduce volatility, but current fundamentals suggest downward pressure on XAGUSD. Keywords: XAGUSD forecast, XAGUSD bearish bias, silver price analysis, silver market today, XAGUSD live trading, silver price forecast, XAGUSD daily analysis, XAGUSD technical outlook, silver forex trading This analysis provides an insight into why XAGUSD may experience bearish price movement today, supported by both fundamental and technical factors. Stay updated with the latest market analysis on TradingView for live silver trading opportunities. Keywords: XAGUSD live updates, silver market insights, XAGUSD trading strategy, daily silver analysis, XAGUSD forecast TradingView
OANDA:XAGUSDShort
by PERFECT_MFG
XAGUSD - When Is The Best Time To DCA?Utilising the most recent dealing range from the 6th Sep 2024 - 4th Oct 2024, we can establish where the equilibrium is located which means it is easier to differentiate premium prices from discount. Currently as it stands, Silver is trading at a premium and those looking to dollar cost average further into Silver should not be looking at anything above $30.32 as, although we could see a reversal before then, you would be incurring drawdown risk (heat as i like to call it) as there are higher time frame imbalances that has the opportunity to be filled, especially taking into factor the dollar index printing risk off conditions. Set your alert at $30.89, $30.36 & $29.71. If you want to play conservative, you could buy physicals or paper at these levels. Don't worry about further decline (especially if your a physical DCA investor) as Silver is the type of investment that you hang onto for years.
FX_IDC:XAGUSDShort
by LegendSince
Silver Forecast ... 10.10.2024the chart is displaying XAGUSD (Silver) price action on a 30-minute timeframe. The Fibonacci retracement tool is applied. Here’s a detailed analysis: 1. Fibonacci Retracement: The Fibonacci retracement levels are drawn from a swing high of 31.46259 to a swing low of 30.21607. Key Fibonacci Levels: 0% level (30.21607): Represents the low of the move. 38.2% level (30.69224): Often a retracement point in a downtrend. 61.8% level (30.98642): A strong resistance point in technical analysis. 100% level (31.46259): The starting high of the move. 2. Price Action: The price has retraced to 30.529 (current level), which is near the 50% retracement level. Price is trading within a tight range, indicating a possible consolidation phase before a breakout. 3. Buy Setup (Highlighted on Chart): There seems to be a long trade (buy setup), targeting a move from 30.529 to the 31.46259 level. Entry Point: Around 30.529. Take Profit (TP): Near 31.46259 (Fibonacci 100%). Stop Loss (SL): Near 30.27180, below the 30.21607 swing low. 4. Risk-Reward Ratio: The risk-reward ratio appears favorable: Risk: Approx. 0.12856 (750 units). Reward: Approx. 0.59454 (2156.15 units), giving a potential gain of 1.96%. 5. Technical Outlook: Support levels: The 30.21607 level represents a key support, as it's the 0% Fibonacci level. A break below this could indicate further downside. Resistance levels: The 31.46259 level is the resistance to watch, where the Fibonacci retracement completes. 6. Volume: The volume is low (333 units), indicating that the market might be in a phase of consolidation. A breakout or breakdown is likely with an increase in volume. Conclusion: The chart suggests that a bullish move is expected if the price can hold the 30.529 support and break higher toward the 31.46259 resistance. However, if the price falls below the 30.21607 low, this could invalidate the buy setup and lead to a bearish move.
OANDA:XAGUSDLong
by CTA_tradesmart
POTENTIAL SHORT OPPORTUNITY SILVER (XAGUSD) SWING TRADEHey everyone hope you are having an amazing weekend so far and a blessed Sunday! I just wanted to get on here and do a post for a potential setup I see happening in the near foreseeable future and wanted to share with the Trading View community! So let's dive in! OK so when looking at Silver first thing off the bat is that Silver just came off a large run from around mid $27 per ounce to now sitting at $32 per ounce in prices obviously showing a pick up in demand as uncertainty around the US Dollar and it's future are in question I'm sure. But aside from the psychological side we can see that prices now are sitting at multi-month/ multi-year premiums and are showing us the buyers momentum is really slowing down as well. This is what caught my eyes for this commodity and the potential to short this commodity in the near term (next 2-6 weeks). Price is also sitting at a previous level of supply & giving us bearish divergence with the weekly & daily highs, hinting that we may potentially see some downside in the near future as well. With prices being at premiums and with the technical confluences it is giving it led me to think that the probability for the next move on Silver is going to be to the downside. Alright guys hope you enjoyed! If you did please boost this post and follow my page for more accurate analysis and potential trade setups! God bless!
OANDA:XAGUSDShort
by JosePips