XAGUSD Analysis for 08/10/2024: Slightly Bearish Bias Expected.Introduction:
As of today, 08/10/2024, XAGUSD (silver to USD) is showing signs of a slightly bearish bias based on the latest market conditions and fundamental factors. This analysis will explore the key drivers influencing the potential downward pressure on silver prices and provide insights into what traders should consider when evaluating XAGUSD today.
Key Drivers Influencing XAGUSD's Slightly Bearish Bias:
1. Stronger U.S. Dollar:
One of the most critical factors affecting XAGUSD is the strength of the U.S. dollar. The greenback has shown resilience in recent sessions, supported by robust economic data from the U.S., including stronger-than-expected employment figures and wage growth. A stronger U.S. dollar tends to put downward pressure on precious metals like silver, as it becomes more expensive for foreign investors to purchase dollar-denominated commodities.
The U.S. Dollar Index (DXY) has maintained a bullish trajectory, further reinforcing expectations of short-term weakness in XAGUSD. Any continuation of dollar strength today could contribute to a slightly bearish movement in silver prices.
2. Interest Rate Outlook:
Another significant factor is the outlook for interest rates. The Federal Reserve has maintained a hawkish stance, with markets anticipating another potential rate hike before the end of 2024. Higher interest rates increase the opportunity cost of holding non-yielding assets like silver, making it less attractive to investors.
Today, market sentiment seems to be focused on any new comments from Federal Reserve officials, which could further impact XAGUSD. Hawkish rhetoric from the Fed would likely contribute to additional selling pressure on silver.
3. Weakness in Industrial Demand:
Silver, unlike gold, is heavily influenced by industrial demand. With recent signs of a global economic slowdown, particularly in key silver-consuming sectors such as electronics and solar energy, there is reduced demand for the metal. Recent data from China, a significant consumer of industrial silver, has shown weaker-than-expected manufacturing activity. Any continued decline in industrial output could add to bearish sentiment for XAGUSD today.
4. Technical Analysis:
From a technical perspective, XAGUSD has been trading below key resistance levels, further suggesting bearish momentum. The 50-day moving average has been trending lower, indicating downward pressure. Additionally, silver prices have been struggling to break above the $22.50 resistance level, which could signal continued weakness in the short term.
The Relative Strength Index (RSI) is hovering around neutral levels, suggesting that there is room for further downside without entering oversold territory. Traders should watch for a potential drop toward the $21.50 support level if bearish momentum continues.
Conclusion:
In conclusion, XAGUSD is likely to experience a slightly bearish bias today, 08/10/2024, driven by the strengthening U.S. dollar, a hawkish Federal Reserve stance, weakening industrial demand, and technical indicators pointing to downward pressure. Traders should keep an eye on developments in the U.S. dollar and any new comments from the Federal Reserve, as these factors could influence further movements in silver prices.
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XAG/USD "SILVER" Market Money Heist Plan on Bearish SideHallo My Dear Robbers / Money Makers & Losers, 🤑💰
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Silver Poised for Breakout:Why $38 Could Be a Realistic Target?When it comes to medium-term speculation, Silver ( OANDA:XAGUSD ) can sometimes be more profitable than Gold, especially when your timing is right. I believe this could be one of those times.
Since the beginning of August, when Silver found strong support and reversed with a bullish engulfing pattern, the price has been rising in a constructive manner. We've seen higher lows on the chart, with each broken resistance level being confirmed as new support.
Currently, Silver is approaching a key resistance level and appears to be pushing for an upward breakout. Additionally, the price structure over the past few months has formed an inverted head and shoulders pattern, further signaling strong bullish momentum in the medium term.
With the Non-Farm Payroll report just a few hours away and considering the strong buying pressure on precious metals, I expect this level to break.
Based on the measured target from the pattern, a move toward $38 per ounce is realistic, which could mean a potential profit of 6,000 pips for those willing to hold this trade with patience.
In conclusion, I plan to buy Silver with a year-end target, using $31 as the invalidation point, offering a solid risk-reward ratio of 1:6.
XAGUSD[SILVER]: Swing Buying Opportunity! Do not miss out! OANDA:XAGUSD
Big buying opportunity, one not to miss out on, after analysis the price movement for last two weeks, now we are confirmed that there is high chance of price touching previous higher high and rejected from there. With a risk managed entry we can target at least 500+ pips if not more. Good luck.
#XAGUSD 1DAYXAGUSD 1-Day Chart Analysis
Pattern Identified: Resistance Level and Bearish Engulfing (Sell Engulfing)
Forecast:Sell
On the 1-day chart of XAGUSD (Silver/US Dollar), a resistance level has been identified, suggesting that the price has reached a key area where sellers tend to overwhelm buyers, causing the price to struggle moving higher. Alongside this, a bearish engulfing pattern has formed, signaling a potential reversal to the downside.
A bearish engulfing pattern occurs when a larger red (bearish) candlestick completely engulfs the previous green (bullish) candlestick, indicating a shift in market sentiment from bullish to bearish. This combination of a resistance level and bearish engulfing pattern suggests strong selling pressure and implies that prices are likely to drop in the short to medium term.
Actionable Insight: Traders may consider taking sell positions, particularly if the price fails to break above the resistance level. However, it is important to monitor for confirmation signals and manage risks appropriately, as market reversals can sometimes be temporary or false.
XAGUSD - one n single support, what's next??#SILVER.. market have one n single supporting region that is around 30.95 to 31.03
Keep close that region because it is most important key supporting area for now and if market hold it then it means a further buying is still valid.
And keep in mind that it is our cut n reverse area on confirmation.
Good luck
Trade wisely
#XAUUSD 1DAYXAGUSD Daily Analysis: Buy Opportunity on Trendline Breakout
The silver market (XAGUSD) is currently presenting a compelling buy opportunity following a significant trendline breakout. This technical development suggests a potential shift in market sentiment and upward momentum.
1.Trendline Breakout: The price has decisively broken above the established downward trendline, signaling a shift from bearish to bullish sentiment. This breakout typically indicates the possibility of a sustained upward movement.
2.Confirmation Indicators: The breakout is supported by increased trading volume, which reinforces the strength of this move. A closing candle above the trendline further validates the bullish outlook.
3.Support Levels: The previous resistance level is now acting as a support zone, providing a safety net for buyers entering at this point.
4.Technical Indicators: Momentum indicators, such as the RSI, are moving toward overbought territory, while the MACD is showing a bullish crossover, suggesting that momentum is building.
5.Market Sentiment: Positive economic developments and increased demand for silver in industrial applications contribute to the favorable outlook. Additionally, geopolitical tensions may drive safe-haven buying.
Conclusion
With the trendline breakout signaling a shift in momentum, a buy opportunity in XAGUSD looks promising. Traders should consider entering positions with a stop-loss just below the breakout level to manage risk effectively. Keep an eye on economic data releases and market developments that may impact silver prices.
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XAGUSD: AB=CD pattern is forming, what is next? Dear Traders,
Bullish pattern is forming, and we have witness change in price. Tomorrow Fed news will likely to take down the price and then reverse from the area that we have identified. We can target a swing area and target a reasonable position. Good luck.
XAGUSD / BREAKING DESCENDING CHANNEL - 4HXAGUSD / 4H TIME FRAME
HELLO TRADERS
overall , under downward pressure as long as trading below supply zone .
as long as remain below supply zone between 31.01 and 31.41 , it suggest decline to reach 30.57 , then breaking and stabilizing below it by open 4h candle expected further decline to 30.09 .
however , stabilizing above 31.41 , it indicates still continues rising to reach 31.74 and 31.96 , then stabilizing above it reach a ATH at 32.50 .
Turning Level : 31.01 and 31.41
XAGUSD / TRADING IN THE DOWNWARD ZONE - 4H TIME FRAMEXAGUSD / 4H TIME FRAME
HELLO TRADERS
Current Market Analysis:
The market is trading below the turning level of 29.07 , and below the channel trend line at 29.38.This means the price action is currently bearish , with a downward bias , The immediate expectation is that unless the price breaks above these levels, the market could continue to decline.
Downward Conditions:
If the price remains below 29.38, it suggests that the market will continue to trend downward, Initial target for the decline: 28.10 , If 28.10 is broken, the next target would be 27.63.
The downward trend remains valid as long as the price doesn't break and stabilize above 29.38.
Upward Conditions:
If the price breaks and stabilizes above 29.38, this would indicate the beginning of a bullish reversal , The first upward target is 29.82 , If 29.82 is broken, the market could aim for the next target at 30.51 , This upward movement would only be valid if the price successfully breaches the channel trend resistance and holds above it.
UPWARD TARGET :
29.82 , 30.51.
DOWNWARD TARGET :
28.10 , 27.63.
XAG/USD Silver Bullish Side Money Heist PlanHola ola Robbers / Money Makers & Losers,
This is our master plan to Heist SILVER Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
Stop Loss : Recent Swing Low using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
XAG/USD "SILVER" Robbery plan to steal the money in long SideHola ola My Dear,
Robbers / Money Makers & Losers,
This is our master plan to Heist XAG/USD "SILVER" Market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
Stop Loss : Recent Swing Low using 2h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.
Silver Price is breaking out right now. Silver...
We saw the silver price during Tuesday trading get sucked down by a sell-off in the Gold price due to double-top formation on multiple timeframes.
But actually Silver showed price divergence relative to Gold in that it's price held up quite well. Why would that be? Well the Silver Daily chart is so much healthier for Long positions in comparison to Gold which at last viewing was still littered with double top formations.
Silver recently broke 30.0460. Expected higher prices in NY afternoon trading.
Silver XAGUSD Bearish Robbery Plan to steal EverythingMy Dear Robbers / Traders,
This is our master plan to Heist Silver XAGUSD market based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Short entry. Our target is Green Zone that is High risk Dangerous level, market is oversold / Consolidation / Trend Reversal at the level Bullish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money.
Stop Loss : Recent Swing High using 4h timeframe
Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
Support our Robbery plan we can easily make money & take money 💰💵 Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.