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Xaglong

XAGUSD - Silver Continues To Rise?Analysis: Taking a look at the chart we can clearly see that price is in an upwards trend. We're forming higher highs and higher lows which helps confirm this as well as the upwards trendline that is present. Price today has pulled back to an area of interest to us as this level previously held as resistance. As we know resistance often becomes support when broken so this previous area of resistance looks like a place where we could see buyers step in and push price higher. Looking at our extra confluences we don't have a fib retracement level of a trendline that lines up with our area however both of these confluences are close by, but this isn't why we took this setup. We took this setup now as we're at an area of possible support and we have the fundamentals in our favour. Fundamentals are what drive the markets so if we have a strong fundamental bias then that is more of a reliable signal then any technicals would be. Fundamentally recently we've seen the USD become weaker and as of the most recent report for COT data we saw an increase of 7K long position but we also saw an increase of 8K short positions on the USD so this is bearish for the USD, meaning that this is a bullish confluence for our bias. Overall we have a strong fundamental reason to be bullish on this pair and we've seen an opportunity present itself on the technical aspect as well. This is why we are currently bullish on Silver. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We any comments at all so thank you! Stay Safe - The JPI Team Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
OANDA:XAGUSDLong
by jpeacockfx
8
SILVER RESISTANCE BREAK-THROUGHSilver broke through its resistance at 24.39 on the 4h graph, signaling probable continuation of the bullish trend. Both MACD indicator and the RSI indicator are signaling bullish trend as well, with MACD histogram being above 0 and rising and RSI being above its neutral line. If the trend continues we might see the price reaching levels of 24.77 and 24.87 In the opposite scenario, the price might return and test levels of 24.45 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
FXOPEN:XAGUSDLong
by legacyFXofficial
1
SILVER BULLISH PATTERN EMERGINGXAGUSD is in the process of formatting a rising wedge pattern on the daily graph which might give a bullish momentum for the instrument in the next couple of days. The weakening of the dollar is also making investments in precious metals more desirable for the investors. RSI indicator is strongly confirming the outlook, being above the 50 neutral line, the confirmation of MACD is weaker, with the histogram still below the 0 value, but still rising. If this trend continues, the price of the instrument might try to reach levels of 21.725, but on the other hand, if the trend reverses, the price might test its previous support at 21.333 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
OANDA:XAGUSDLong
by legacyFXofficial
Silver in inverted head and shoulders.Silver - Intraday - We look to Buy a break of 19.67 (stop at 19.57) A bullish reverse Head and Shoulders is forming. Previous resistance located at 19.65. A break of bespoke resistance at 19.50, and the move higher is already underway. There is scope for mild selling at the open but losses should be limited. Our profit targets will be 19.94 and 20.20 Resistance: 19.65 / 20.00 / 20.20 Support: 19.20 / 19.00 / 18.60 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:XAGUSDLong
by OANDA
XAGUSD has loosing the powerXAGUSD has a falling trend and it is losing its power. For the 1d graph, it has lower highs and a "falling triangle". Also, shoulder-head-shoulder formation and double pick were seen in the short past. They indicate weakness. I'm more close to short but before taking a position, it must wait for a confirmation. Short opinion: If it will break the support ($20-22), the target will be $18.5. Long opinion: If it will break the falling trend, because of flag formation, the target will be $35 with a 50% gain. It is not an investment suggestion. Please be careful with your decisions.
OANDA:XAGUSD
by akadal
2
XAG USD clear path to 26+Hello traders & analysts, Here is out latest update for Silver . We are bullish and would like to share our out look for the next opportunities which can take place. Now we have hit 21.00 - expect some resistance to occur - why? This is due to the barrier to be broken through. We will now anticipate the next target of 26.00 at 20.5 we closed 200 units to cash in 450pips - great partial take! COT data: Long Short Total %Long %Short Avg_13 62,368 28,887 91,255 69% 31% Avg_20 61,214 26,449 87,663 70% 30% Avg 50 83,059 35,629 118,688 70% 30% Avg_130 84,123 36,227 120,349 70% 30% Technically what has happened? Price was severely undervalued and silver is an important commodity to use for manufacturing sectors. Commodity currencies rely on this as an export factor e.g. CAD, AUD, MXN, ZAR , RUB, NZD. We had a great wedge pattern where we entered on a nice engulfing daily candle which broke to the upside. Price has hit a nice supply zone at 18.3-18.9 zone. The price in this area can reject and retrace which is an option we are looking for; however keep in mind the bullish structure, price has alot of upside potential. If price rejects, we will look for a nice clean break from the zone and hedge. Fundamentals: Coronavirus re-opening of industries and subsequent purchase power of retailers. Fear commodity but less attractive than Gold and platinum. Cheap metal but gains are very high and attractive China vs USA trade war Australia vs China mini trade war. Mexico has large coronavirus numbers but largest producer of silver . Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise. If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes. Thanks, Team Lupa
FOREXCOM:XAGUSDLong
by LupaCapital