Silver forecast ... 09.10.2021Precious metals is at buying position.
Resistance at $31.00 is closing the path towards the $3.40 high.
Supports at $30.50 and $30.20.
XAGUSD trade ideas
XAGUSD - market structure this is an analysis using the market structure, I simply use the concept of movement in Z (waves) of the price. A simple analysis will always be more efficient and much easier to understand and respect. Follow the established strategy and trading plan to have realistic results
XAGUSD Buy opportunity near the 1day MA50.Silver / XAGUSD is approachint the 1day MA50, being on a Channel Up since the August 8th low.
The long term pattern is also bullish, an uptrend on a Rising Support, exactly where the 1day MA200 is.
Technically the 1day MA50 is the first buy entry of this pattern and the Rising Support the second.
The 1day RSI suggests that based on the March 26th 2024 fractal, we won't need the Rising Support yet.
Buy and target the 1.382 Fibonacci (35.000).
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XAGUSD(Y) correction may have begun. We want to see a movement like in the figure and it is very likely to complete it as a Zig -Zag. At first, of course, the level we will follow will be 26.441, but we will follow 24.774 and then 22.650 levels. However, we need to avoid a bear trap at 26.441. Because this count is 1 hour. I see the possibility of accumulation more likely. I will stay short for now, if you look at the previous analysis you can understand better.
$silverI will try to long silver, soon! i think its a good place and r/r
the trend is up so why not?
$Silvereither we reclaim blue line above or so a sweep of yellow line below
could wick deeper to test the breakout area as long as the weekly closes above yellow line we're golden
fomo will kick in on this breakout or flip of yellow line above so keep stacking
XAGUSD VIew!!The dollar eased from near seven-week highs on Tuesday, while investors awaited minutes of the Federal Reserve's latest policy meeting, due on Wednesday, and more economic data for insights on the U.S. interest rate outlook.
Israel's military said on Tuesday it had begun ground operations in southwest Lebanon, expanding its incursions to a new zone a year after exchanges of fire began with armed group Hezbollah and amid pleas by the U.N. for a diplomatic solution.
SILVER: Move Down Expected! Sell!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the downside. So we are locally bearish biased and the target for the short trade is 31.07367$
Wish you good luck in trading to you all!
SILVER SHORT FROM RESISTANCE
Hello, Friends!
Previous week’s green candle means that for us the SILVER pair is in the uptrend. And the current movement leg was also up but the resistance line will be hit soon and upper BB band proximity will signal an overbought condition so we will go for a counter-trend short trade with the target being at 27.288.
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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 Hits New High with Bullish Continuation ExpectedHello,
XAG/USD has surpassed our previous targets, reaching a new yearly high of 32.964! Despite this impressive rise, there is no strong indication of a major bearish shift. Current support levels are expected to be tested, as both the daily and weekly pivot points have acted as resistance. The extent of this testing remains to be seen, but after these supports are confirmed, a bullish continuation is anticipated.
TradeWithTheTrend3344
Silver struggles at key resistanceSilver has now failed t break the $32.00 level on multiple occasions - but it may do so soon Still, the fact that we have tried to take out the May high of $32.51 twice in as many weeks and have failed to hold there may be a sign of waning bullish momentum. At the time of writing, silver was still holding above key support in around the $31.35 - $31.50 area (blude shaded area). The line in the sand is at $30.88, the most recent low. If this level breaks then we may see a correction to below $30.00 with $29.00 being a key support where we may see silver start another bullish trend. So let's wait and see what silver does here. In the longer-term, I continue to think silver is headed for $35.00 at least. But I am not so sure about the short-term path, especially in light of most recent price action.
If you trade silver, make sure to keep an eye on gold. The yellow metal remains supported by strong fundamentals, with central bank rate cuts and geopolitical tensions bolstering demand for the safe-haven asset. Despite recent dollar strength, which has capped gold's upward momentum, factors like rising oil prices, Middle Eastern unrest, and China's economic stimulus continue to lend support. However, the Fed Chair's indication of a more cautious approach to rate cuts means gold could potentially ease back as the dollar comes back. This could also negatively impact silver in the short-term outlook.
By Fawad Razaqzada, market analyst with Forex.ocom
SILVER Set To Fall! SELL!
My dear friends,
Please, find my technical outlook for SILVER below:
The instrument tests an important psychological level 32.202
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 31.709
About Used Indicators:
Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price.
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WISH YOU ALL LUCK
SILVER: Strong Bullish Bias! Buy!
Welcome to our daily SILVER prediction!
We made our analysis today using SMC and ICT trading theories, which, combined with our trading experience all point to the upside. So we are locally bullish biased and the target for the long trade is 31.95492$
Wish you good luck in trading to you all!
SILVER Will Go Lower! Sell!
Here is our detailed technical review for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 31.909.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 29.771 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
Like and subscribe and comment my ideas if you enjoy them!
Anticipating a Slightly Bearish Bias on XAGUSD for today07/10/24XAGUSD Analysis for 07/10/2024: Anticipating a Slightly Bearish Bias
The XAGUSD (Silver to US Dollar) pair is showing signs of a slightly bearish bias today, driven by a confluence of fundamental factors and current market conditions. Silver, often seen as a safe-haven asset and a store of value, is facing downward pressure due to several key drivers. Here’s an in-depth look at why the market may anticipate a bearish tilt in XAGUSD today.
1. Rising US Dollar Strength
The US Dollar continues to exhibit strength in the global market despite some intermittent weaknesses. Investors are flocking to the Dollar due to the Federal Reserve’s relatively hawkish stance, which signals a potential continuation of elevated interest rates. A stronger US Dollar typically puts pressure on commodities like silver, making XAGUSD prone to a bearish bias today.
2. US Treasury Yields
The surge in US Treasury yields is another significant factor weighing on silver prices. Higher yields make non-interest-bearing assets like silver less attractive to investors. The 10-year Treasury yield is hovering near recent highs, which reduces the appeal of holding silver and increases the selling pressure on XAGUSD.
3. Weak Industrial Demand
Silver is not just a precious metal but also an industrial commodity. With global economic growth concerns persisting, particularly with sluggish demand from major economies like China and the Eurozone, industrial demand for silver is under pressure. Slower global growth diminishes the demand for silver in manufacturing and technology sectors, contributing to today’s bearish outlook.
4. Global Risk Sentiment Shift
Global risk sentiment has shifted slightly away from safe-haven assets as geopolitical tensions ease and market volatility declines. This sentiment shift makes assets like silver less attractive to investors looking for stability. The risk-on environment is driving money flow away from metals like silver and into riskier assets, further supporting the bearish case for XAGUSD.
5. Technical Analysis
On the technical side, XAGUSD is trading below key resistance at $23.00, and bears seem to be in control as silver struggles to maintain its foothold above the $22.50 support level. The 200-day moving average is sloping downwards, indicating that the broader trend remains negative. Failure to hold above $22.50 could push XAGUSD lower, adding to the bearish momentum today.
6. Impact of Upcoming Economic Data
Investors will also be eyeing upcoming economic data from the US, including inflation reports and Federal Reserve commentary. Any hawkish tone from the Fed or stronger-than-expected inflation data would add more pressure to silver prices as the market anticipates further tightening from the Fed. This would fuel the bearish outlook on XAGUSD today.
Conclusion
Given the strong US Dollar, rising Treasury yields, weak industrial demand, and shifting global risk sentiment, XAGUSD is expected to face a slightly bearish bias on 07/10/2024. Traders should closely monitor the $22.50 support level, as a break below could confirm further downside. However, any unexpected shift in risk sentiment or Dollar weakness could alter this outlook.
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XAG/USD "The Silver" Market Money Heist Plan on Bullish SideHello My Dear Robbers / Money Makers & Losers, 🤑 💰
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Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
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XAGUSD VIew!!Gold prices eased on Monday as bets firmed for a smaller U.S. rate cut in November after strong jobs data, while investors awaited inflation data and comments from Federal Reserve officials for further cues.
Spot gold
GOLD
slipped 0.3% to $2,643.13 per ounce by 0649 GMT. U.S. gold futures
GOLD
edged 0.2% lower to $2,662.70.
The stronger-than-expected September jobs report, released on Friday, poured cold water on expectations of a large Fed rate cut next month, boosting the dollar.
Bearish outlookThe white metal tested the upside highs, but failed to continue up. I anticipate a potential drop due to the failed bullish continueation.
XAGUSDThere is no change at all. I continue to wait for 26 usd levels. There is an accumulation of energy up to 22.700 levels.
Silver XAG/USD Short term pull back?Traders.
I'm looking at a topping pattern here. We have come up to a resistance zone. If we head back down to $30 this would be a good overall buy.
XAGUSD silverSilver industrial demand will exceed GOLD by 2030 especially in solar panel production, we believe that market structure of silver will go into correction after rejecting 4hr selling roof on multiple times
Silver- XAG/USDTraders.
Here is a road map for Silvers longer term outlook. Current major resistance is between $32-35.
Timeframe: 6 Month Candles.
