Xagusdanalysis
Silver , XAGUSD ANALYSIS 27 OCT 2020Silver , XAGUSD ANALYSIS 27 OCT 2020
Currently market @ 24.435
as we can see in chart H4 market breakout the trent channel and now its pull back , from this level market confirmed sell
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FOREXCOM:XAGUSD
OANDA:XAGUSD
FX_IDC:XAGUSD
CURRENCYCOM:SILVER
A Final Test?Hello everyone :)
Since silver is actually a volatile instrument, it is not an instrument I frequently analyze. However, I wanted to share this analysis that I made on request. The parallel with the Gold analysis I shared the previous day is at a high level. When we look at it, it is very possible that a small impulse movement will come up to the place I have shown in the graph. Therefore, the stoploss point of sales to be made around 23.84 should be 25.75. 22.40 point is a good point to take profit.
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Silver- Back to 23 soon?As always, Silver is more "Technical", easier to read and more straight forward than Gold...
After the drop to 22, the price rose in a clearly corrective way, overlapping
Now the price lies just above confluence support and I believe (As for Gold) that this support will fall and the price will drop.
My target for Silver is 23 and a sell trade with a SL above 25 can have a R:R of more than 1:2
XAGUSD H4. This Analysis Based On Price Action Theory.We Have an Analysis Of XAGUSD H4. This Analysis Based On Price Action Theory.
Pair is looking completely strong and heading to the north side full of bullish momentum. The swings are making successively higher highs and higher lows on the hourly and 4 hourly charts. Pair is trading above all the major and minor EMA lines which are favoring the bulls and heading towards the north side. RSI and MACD indicators are also favoring the bulls and heading to the north side full of bullish momentum. We will keep our view bullish on the pair as long as 23.80 level remains intact. Odds are in favor of bulls. The $25.00 level is the next arrival of bulls and a valid breakout of this level will open the way towards the $25.30 and $25.70 level.
I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade.
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shivamfx Technical Team
Note- Please Take Only Two ✌️ 2% Risk On Given Analysis
XAGUSD (SILVER) SELLING FROM RESISTANCE ZONE !!! As we see Silver is rejecting from this zone so we are sell this pair with proper low risk and higher rewards
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XAGUSD Major trend line was broken along with a DojiXAGUSD
Has following the same path as GOLD as its got some rejection around 1.25560 a Bearish engulfing candle was formed and felled towards 23.879 a s the USD got some major BID in recent days. The major redline was broken on October 13 with strong bearish candle along with a doji candle.
The price was bounced from 23.875 and approached towards 24.600 level which is a .618 Fibonacci level and in morning session even XAUUSD felled below the .786 Fibonacci level as its currently trading in a range we may expect downward play as The stimulus talks are getting weaker day by day which will strengthen the USD and in turn XAGUSD will fall. And the downside target would be 23.414 which is a 1.272 Fibonacci level
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 19.65, resumption of uptrend is expected.
We make sure when the resistance at 26.20 breaks.
If the support at 19.65 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
While the RSI resistance #2 at 64 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 22.85 on 10/06/2020, so more gains to resistance(s) 25.65 and maximum to Major Resistance (26.20) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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💡SILVER (XAGUSD) - Weekly Technical Analysis UpdateMidterm forecast:
While the price is above the support 19.65, resumption of uptrend is expected.
We make sure when the resistance at 26.20 breaks.
If the support at 19.65 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
While the RSI resistance #2 at 64 is not broken, the probability of price increase would be too low.
A trough is formed in daily chart at 22.85 on 10/06/2020, so more gains to resistance(s) 25.65 and maximum to Major Resistance (26.20) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
SILVER - XAGUSD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of SILVER - XAGUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 42 - 12 Oct
M > Price moved bullish breaking several structural levels to stop at monthly support now turned resistance and moved down for correction. After a huge impulse we expect price to retrace till 0.382 or 0.5 Fib levels on last impulse. Both levels coincide with monthly resistance which now act as support.
W > Price dropped in between 0.382 and 0.5 level with weekly candle closing at 0.382 level, this level coincides with daily demand zone. Since then price is making upward move. We can see an M formation and expect price to continue with upward move to test neck and complete formation. Neck is few pips below daily supply zone created during last consolidation.
D > Price is creating HH and HL on its way up and with impulsive daily candle has broken and surpassed daily support/ demand zone which now would have been a resistance. Next structure level is neck of M formation followed by daily supply zone.
As per COT SILVER saw addition of both Long and Short, increasing net positions whereas Commercials saw lowest Long Position for this year, making Silver improving its position for the said week. Silver has gained more strength last week.
4H > We do not see any loss of momentum at close of market and expect price to continue with upward move to test our target and complete M formation.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions.
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AP17FX