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XAG-USD

XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 14.84 (horizontal swing high, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 14.52 (horizontal swing low support, 78.6% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX_IDC:XAGUSDShort
by easyMarkets
XAG/USD 1H Chart: Descending channel in sightSilver has been appreciating against the US Dollar after the currency pair reversed from the lower boundary of a medium-term descending channel located circa 14.00. As apparent on the chart, the exchange rate is re-testing the upper channel line near 14.65. From a theoretical point of view, the pair should reverse and drop to the 200-period (4H) SMA in the nearest future, currently located at 14.40. Technical indicators for the 1D and 1W time-frames also suggest that bearish momentum might occur soon. If given channel does not hold, it is expected that a breakout could occur. In thic case, potential upside target might be the monthly S1 at 14.90.
FX:XAGUSD
by UnknownUnicorn890690
XAG/USD 1H Chart: Breakout from channelSilver has been depreciating against the US Dollar since the beginning of September. This movement has been bounded in a descending channel. By mid-Thursday, the pair has reached the upper boundary of the descending channel and the 200-hour SMA at 14.24. This short-term appreciation has pushed technical indicators in the oversold territory. This means that a breakout is likely to occur soon. Even if bears still move the rate lower during the following hours, the bullish momentum should take over the market in the nearest future and target the upper boundary of a medium-term channel and the weekly S1 at 14.51.
FX_IDC:XAGUSD
by UnknownUnicorn890690
XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 14.39 (horizontal overlap resistance, 38.2% Fibonacci retracement, 61.8%, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 13.67 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Stochastic (21,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX_IDC:XAGUSDShort
by Tickmill
There is a trading opportunity to buy in silverMidterm forecast: While the price is above the support 13.60, beginning of uptrend is expected. We make sure when the resistance at 15.60 breaks. If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (14.650) Ending of entry zone (14.400) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Technical analysis: While the RSI resistance #1 at 44 is not broken, the probability of price increase would be too low. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 33. Take Profits: TP1 = @15.000 TP2 = @15.250 TP3 = @15.600 TP4 = @15.900 TP5 = @16.200 TP6 = @16.550 TP7 = @16.850 TP8 = @17.200 TP9 = @17.700 TP10 = @18.100 TP11 = @21.000 TP12 = @22.000 TP13 = @25.100 TP14 = @28.350 TP15 = @33.300 TP16 = @37.500 TP17 = @44.200 TP18 = @49.800 TP19 = Free
FOREXCOM:XAGUSDLong
by ForecastCity
There is a trading opportunity to buy in silverMidterm forecast: While the price is above the support 13.60, beginning of uptrend is expected. We make sure when the resistance at 15.60 breaks. If the support at 13.60 is broken, the short-term forecast -beginning of uptrend- will be invalid. Trading suggestion: There is a possibility of temporary retracement to suggested Buy Zone (14.650 to 14.400). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone. We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets. Beginning of entry zone (14.650) Ending of entry zone (14.400) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Technical analysis: While the RSI resistance #1 at 44 is not broken, the probability of price increase would be too low. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 33. Take Profits: TP1 = @15.000 TP2 = @15.250 TP3 = @15.600 TP4 = @15.900 TP5 = @16.200 TP6 = @16.550 TP7 = @16.850 TP8 = @17.200 TP9 = @17.700 TP10 = @18.100 TP11 = @21.000 TP12 = @22.000 TP13 = @25.100 TP14 = @28.350 TP15 = @33.300 TP16 = @37.500 TP17 = @44.200 TP18 = @49.800 TP19 = Free
FOREXCOM:XAGUSDLong
by ForecastCity
1
XAG/USD 1H Chart: Decline still in sightSilver had been moving sideways against the US Dollar since mid-July with a diminishing trading range. As a result, symmetrical triangle was formed within a more senior pattern—a descending channel valid since the beginning of June. This triangle was breached today. Such bearish breakouts are usually followed by a retracement from the breached pattern and a subsequent fall. Technical indicators demonstrate that there is still some downside potential in the market before bulls are able to prevail in the market once again. The nearest support is the monthly S1 at 15.08; however, this decline is expected to be more significant, thus setting the 14.95 mark as a possible near-term target. Meanwhile, Silver bulls should look for buy signals, as such falls are followed by price surges.
FX_IDC:XAGUSD
by UnknownUnicorn890690
XAG/USDSilver has done 7 swing upon 7 swing. Oversold on weekly. Over extended on Monthly TDI. Already turned up on Daily TDI. There is potential for a very large trade to the upside if it were to do a larger 7 swing on the larger scale. We can get more downside before the LARGE upside move, but we are at a major fibonacci and pattern confluent supply zone. Hard for me to fully explain here what I am looking at, but major level, large potential for upside from this area is all I can really say, I can't explain the different scenarios.
OANDA:XAGUSD
by thillygoosth
XAGUSD testing major resistance, prepare for a potential drop!XAGUSD (Silver) is testing major resistance at 16.85 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong drop could occur at this level to push prices all the way down to major support at 16.29 (Fibonacci retracement, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 93% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by easyMarkets
XAGUSD (Silver) on major resistance, potential reversal!XAGUSD is testing major resistance at 16.66 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 16.29 (Fibonacci extension, horizontal swing low support). Stochastic (55,5,3) is seeing major resistance at 96% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by easyMarkets
1
XAGUSD approaching resistance, potential drop! XAGUSD is approaching our first resistance at 16.83 (horizontal swing high resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where price might potentially drop to our major support at 16.33 (horizontal swing low support). Stochastic (55,5,3) is also testing our resistance and a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
FX:XAGUSDShort
by Tickmill
XAGUSD Enters 2 x Demand AreaSilver has again reached its crucial lower range end and is in a serious demand area around the $16 area on top of a Daily Trendline and area of support. It also sits atop the 23.6 of the larger move, price tends not to drop below here in recent history look for a Long entry with your stoploss below the 23.6 Price is in a Weekly Wedge and very likely to break out soon, so beware of the drop through, Price action is mandatory. On the flip side of that, if it breaks above this could be a long term hold.
OANDA:XAGUSDLong
by PardoFX_Trading
XAG/USD 1H Chart: Pair expected to appreciateXAG/USD has been trading sideways in a diminishing range since early February. This has resulted in the formation of a wedge-like pattern. The latest test of its bottom boundary occurred early in April when then the metal reversed from the 16.25 mark. It should be noted that the 2018 low is located at 16.15. The pair has since edged higher and breached the prevailing short-term channel down. This level coincides with a massive support cluster formed by the 55-, 100– and 200-hour SMAs and the weekly and monthly PPs. The pair surpassing such a strong barrier does suggest that the rate could continue appreciating during the following trading hours. A possible upside target is the upper wedge line circa 16.70. In case this level is breached, the pair should target the 50.00% Fibonacci retracement at 16.93. Meanwhile, a breakout of the aforementioned support is likely to result in a fall down to the 2018 low.
OANDA:XAGUSDLong
by UnknownUnicorn890690
XAG/USD 1H Chart: Awaits bullish confirmationSilver has been trading in a triangle-like formation during the past three months. The bearish channel which guided the pair since mid-January was breached to the upside last week, thus entering a minor period of consolidation. It is likewise apparent that the rate has remained near the upper triangle boundary for a few sessions. Taking into account these two factors, it is likely that the northern side of this formation surrenders next week. A possible near-term target is the 50.0% Fibonacci retracement near 17.00. This area has proved to be a strong resistance level that might eventually let bears to take over the market once again. In order for this bullish scenario to occur, Silver has to overcome the combined resistance of the 55-, 100– and 200-hour SMAs at 16.50. In case this does not occur, the most probable downside target is the 2018 low of 16.17.
FX_IDC:XAGUSD
by UnknownUnicorn890690
XAG/USD 4H Chart: Silver likely to edge higherSilver had been moving in a channel down against the US Dollar since mid-January prior to breaching this pattern yesterday. The failure to initiate a new wave down was caused by an upward-sloping trend-line which reversed the rate near 16.30 mark where the 23.60% Fibo retracement is located. As a result, the pair went for a breakout of the channel, at the same time dashing through the combined resistance of the 55– and 100-period SMAs and the weekly PP. A breakout of such a strong barrier does suggest that a surge is likely to follow in the medium-term. A possible upside target is another trend-line, reinforced by the 61.80% Fibo retracement, near 117.30. In terms of the following trading sessions, it is likely that the pair tries to form a rebound from the breached channel just to gain some strength for a breakout of the 200-period SMA. However, the support cluster located circa 16.50 should force a reversal back north.
OANDA:XAGUSD
by UnknownUnicorn890690
XAGUSD testing resistance, potential for a drop!XAGUSD is testing its resistance at 16.949 (100% Fibonacci extension , 50% Fibonacci retracement , 61.8% Fibonacci retracement , horizontal swing high resistance) and could potentially fall to support area between 16.161 (L T 61.8% Fibonacci extension , 100% Fibonacci extension , swing low support) and 16.025 (61.8% Fibonacci extension , 78.6% Fibonacci retracement ). We have also identified a 2nd resistance at 17.101 (61.8% Fibonacci retracement , 76.4% Fibonacci retracement , horizontal pullback resistance). RSI (55, 5, 3) shows a descending resistance that price is approaching which could lead to a corresponding fall in price.
FX_IDC:XAGUSDShort
by ICmarkets
1
XAGUSD bounced off its support, potential to rise further XAGUSD has bounced nicely off its support at 16.161 (100% Fibonacci extension, swing low support) where there may be potential for it to rise further to its resistance at 16.976 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance). We have also found a 2nd support at 16.038 (61.8% Fibonacci extension, 78.6% Fibonacci retracement). Stochastic (89, 5, 3) shows a corresponding bounce off its support at 2.71% where it has potential to rise to its resistance at 97.14%
FX_IDC:XAGUSDLong
by ICmarkets
XAG/USD 1H Chart: Bulls could push for breakout After hitting the bearish trend-line at 17.67 three weeks ago, XAG/USD has been guided by a channel down. The short-term rising wedge that bounds the latest wave up within this channel. In terms of today, the pair’s failure to breach the 200-hour SMA near 16.62 earlier in the day resulted in a southern breakout of the short-term wedge. The rate was stranded in a narrow range between the 200– and 55-hour SMAs by mid-session. It is likely that a breakout from any of these barriers will determine the pair’s direction within the following days. Even though the general tendency of technical indicators is southwards, the pair could find support at the 100– and 55-hour SMAs and the weekly PP circa 16.50, thus pressuring the rate for a breakout north. A possible upside target in this scenario is the monthly PP at 17.28.
OANDA:XAGUSDLong
by UnknownUnicorn890690