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Silver / U.S. Dollar

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XAGUSD trade ideas

Fundamental & Technical Analysis on XAGUSD (Silver)Fundamental : Historically for Silver when Open Interest (OI) is going down it is a bearish signal and vice versa unlike other symbols. In this case Open Interest is decreasing which is Bearish, Commercial (Hedgers) Long positions are slowly going up while their Short positions seem to be slowly decreasing which is another Bearish confluence. For Non-Commercial the Longs have been lowering the past 5 weeks but unfortunately so have the Short positions which isnt exactly what i would like to see but I do believe they'll start increasing. Net Positions for Commercial has reached an extreme on the line chart at about -400K which is a Bearish signal and Non-Commercial has reached an extreme at around 300K, both of these extremes are aligned with the extremes seen on February 2020. COT Report : cot-reports.com Line Graph : cot-reports.com Technical : The 5 EMA has crossed down the 20 EMA while Momentum is negative and the K% line on the Stochastic is underneath the 50% line. Targets & Stop Loss : My stop loss is at Fib LVL 0.236 which is $29.470 on the chart. Take Profit #1 is at Fib LVL 1.272, Take Profit #2 is Fib LVL 1.414, and Take Profit #3 is at Fib LVL at 1.618. The rest of the Take Profits are at Fib LVLs 2, 2.272, and 2.618. At every Take Profit i will take half of my position off and leave the rest running, after Take Profit #1 is hit I move my Stop Loss down to break even.
BLACKBULL:XAGUSDShort
by Iateyourcroissant
Silver retests recent highsGold is trading sideways this morning. This follows a strong session yesterday which saw it close at a fresh all-time high. Just under a fortnight ago, gold managed to burst out of a month-long trading range between $2,470 and $2,530. Since then it has continued to push higher, adding around 6%. The daily MACD has also picked up sharply, although it is not particularly overbought. So far, there hasn’t been any significant pullback, or period of consolidation during this latest leg of the rally, and that could be something that is weighing on traders’ minds. Meanwhile, it is silver which has really taken off to the upside. Yesterday it jumped close to 5% taking it above $32 per ounce for the first time since the end of May. This proved to be the high for the summer, as silver subsequently fell around $6, or 18% over the next two months. At the beginning of last month, silver hit a multi-month low, just under $26.50. Since then it has rallied over 20%. But this is now a key area for silver. If it is unable to break and hold above $32 over the next few trading sessions, and if the area around $31 fails to hold as support, then we may see a more protracted downside correction. But if silver can take out its highs from back in May, then further gains seem likely.
CAPITALCOM:SILVER
by TradeNation
Silver (XAG/USD) Approaching Key Resistance:Reversal or Breakou?This analysis focuses on the Silver (XAG/USD) market, where a harmonic pattern is forming alongside Fibonacci retracement levels. The focus is on short to medium-term opportunities, considering technical patterns and key support levels. Key Patterns and Levels: Bullish Trend: Since the end of August, Silver has shown an upward trend, with prices reaching above 32 USD. The pattern of higher highs and higher lows suggests a continuation of the bullish trend in the short term. Fibonacci Levels: Fibonacci retracement is based on the previous upward move, with the 0.5 and 0.618 levels being significant potential support zones for a reversal. Resistance Zone: Silver recently touched the 32 USD zone, which has acted as a strong resistance in the past and has not yet been successfully broken. This resistance could indicate a potential correction before another attempt to break higher. Technical Indicators: The TDIGM indicator below the chart shows an upward trend, with prices above the 60 level, indicating strong buying pressure. However, as Silver nears a key resistance zone, it’s important to watch for signs of divergence in the indicator, which could signal a potential reversal or correction. Investment Strategies: 1.Short-Term Selling Strategy: Sell Entry: Since Silver is near a significant resistance level, a selling strategy could be viable between 31.80 and 31.60 USD, aiming for a correction after the recent bullish move. Stop Loss: Place your stop loss above 32.50 USD in case of a breakout above the resistance. Take Profit: Targets can be set around the Fibonacci levels of 29.97 USD (0.5 Fibonacci) and 29.43 USD (0.618 Fibonacci), where potential support may be found. 2.Medium-Term Buying Strategy: Buy Entry: If a correction occurs, the 29.43 USD zone (0.618 Fibonacci) could provide an excellent buying opportunity, anticipating a continuation of the upward trend. c) Breakout Buying Strategy: Buy Entry on Breakout: If the price breaks above 32.50 USD with strong momentum, it could signal further bullish continuation. Entry: Enter after a confirmed breakout or wait for a retest of the broken resistance. As always, monitor the price action closely, especially on lower timeframes for additional confirmation. The Silver market is at a critical juncture, testing a key resistance zone. Recommended strategies focus on selling at resistance and buying on retracements or breakouts. While Silver continues to show strength, a technical correction could offer a favorable buying opportunity at lower levels, with the potential to profit from the continuation of the overall bullish trend.
CAPITALCOM:SILVERShort
by MrVNpt
XAGUSD. Trading opportunityHello traders and investors! Daily Timeframe Analysis On the daily timeframe, the price has formed a sideways range that began in April. The upper boundary is 32.5185, and the lower boundary is 26.0185. The buyer's vector 8-9 has reached the target of 31.755 (see the previous post). There are no signs of a reversal yet to indicate the realization of the seller's vector 9-10, with a potential target of 26.471. 4H Timeframe Analysis On the 4-hour timeframe, the price has formed a sideways range below the level of 31.755. The upper boundary is 31.4335, and the lower boundary is 29.7085. Currently, the buyer has broken through the upper boundary of the range. If the buyer defends the 31.4335 – 31.755 range, it is possible to look for buying opportunities, with a potential target of 32.5185. Good luck with your trading and investments!
OANDA:XAGUSD
by AlexeyWolf
Elliott Wave Expects Silver (XAGUSD) to Continue Bullish moveSilver (XAGUSD) is close to breaking above previous peak on 5.20.2024 high at 32.51. A break above the level confirms the next leg higher has resumed. Short term, rally from 9.9.2024 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 9.9.2024 low, wave ((i)) ended at 31.23 and pullback in wave ((ii)) ended at 29.68. The metal has resumed higher in wave ((iii)). Up from wave ((ii)), wave i ended at 30.27 and pullback in wave ii ended at 29.89. The metal extended higher in wave iii towards 31.29 and wave iv pullback ended at 30.60. Final wave v higher ended at 31.43 which completed wave (i) in higher degree. Pullback in wave (ii) ended at 30.34 with internal subdivision as a zigzag structure. Down from wave (i), wave a ended at 30.88 and wave b rally ended at 31.34. The metal then extended lower in wave c towards 30.34 which completed wave (ii) in higher degree. The metal has turned higher again in wave (iii). Up from wave (ii), wave i ended at 31.01 and wave ii pullback ended at 30.61. Expect wave iii to end soon, then it should pullback in wave iv to correct cycle from 9.23.2024 low in 3, 7, 11 swing before it resumes higher again. Near term, as far as pivot at 29.68 low stays intact, expect dips to find support in 3, 7, 11 swing for further upside.
FX_IDC:XAGUSD
by Elliottwave-Forecast
XAGUSDTechnical and Fundamental Analysis of Silver (XAG/USD) Based on the provided chart, a detailed technical and fundamental analysis of silver is presented below: 1. Overall Market Trend: Strong Uptrend: The chart indicates a strong uptrend where silver prices are approaching a critical resistance level. This resistance is around $31.96, a level the price has previously struggled to break. Key Resistance Level: Around $32.00, the price has attempted to break through this level multiple times but has failed. This level is recognized as a strong psychological and technical resistance area. 2. Candlestick Patterns: Bullish Candlestick Pattern: In recent days, strong bullish candlesticks have been observed, indicating a market inclination toward upward movement. Possible Reversal Pattern: If a candlestick pattern such as a "Pin Bar" or "Doji" forms at this resistance level, it could signal a price reversal and the inability to break the resistance. 3. Chart Patterns: Double Top Pattern: If the price fails to break the $32.00 level and reverses downward, a double top pattern may form, signaling a potential bearish reversal. Potential Resistance Break: If the price manages to break this level, it could trigger a new uptrend, potentially pushing the price higher toward $33.00 or beyond. 4. Fundamental Analysis: Macro-Economic Factors: Silver, as a safe-haven asset, is influenced by global economic changes and inflation. In times of economic uncertainty and rising inflation, the demand for silver as an inflation hedge tends to increase. U.S. Dollar: Fluctuations in the U.S. dollar can also impact silver prices. A weakening dollar may lead to an increase in silver prices. 5. Trade Suggestions: Long Scenario (Buy): If the $32.00 resistance is broken: Entry Point: After a candle closes above $32.00, consider entering a buy position. Stop Loss: Around $31.50, just below the breakout level. Take Profit 1: $33.00. Take Profit 2: $34.00 (if the uptrend continues). Short Scenario (Sell): If the price fails to break the $32.00 resistance and reversal signals appear: Entry Point: Between $31.90 to $32.00 (after observing bearish reversal signs in candlesticks). Stop Loss: Above $32.20. Take Profit 1: $30.50 (first support level). Take Profit 2: $29.50 (next support level). 6. Risk Management: Using a stop loss is crucial due to the proximity to the resistance level. The trade size should be adjusted according to capital and risk tolerance. Conclusion: Silver prices are approaching a strong resistance level. If this level is broken, a buying opportunity arises, but if the price fails to break it, there is a chance of a reversal towards lower support levels. For more detailed and up-to-date analysis, always consider market conditions and fundamental factors. Given the comprehensive silver analysis, attractive trading opportunities are ahead. For more professional and precise analyses, make sure to follow Dr. Rezvani's page and benefit from daily insights and up-to-date trading signals! 🌟
SAXO:XAGUSD
by Masih_Rezvani
SILVER Is Going Down! Short! Take a look at our analysis for SILVER. Time Frame: 6h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is approaching a significant resistance area 30.843. Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 30.078 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
OANDA:XAGUSDShort
by SignalProvider
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