XAGUSD Pair : XAGUSD ( Silver / U.S Dollar ) Description : Completed " 12345 " Impulsive Waves Break of Structure Resistance Level Symmetrical Triangle as an Corrective Pattern in Short Time Frame RSI - Divergenceby ForexDetective7
Silver could be heading to a new 2024 highFollowing the release of today’s weaker-than-expected US CPI report, the US dollar slumped and bond prices rallied. This helped to fuel a fresh rally in precious metals. As well as silver we saw big gains for the small-cap Russell 2000. With rate cut expectations on the rise, our silver forecast remains positive. Given the recent break out from the bull flag pattern, silver could be heading above $32.50, the high from May. But the potential is there for a massive continuation thereafter, with $35 being the next immediate target. By Fawad Razaqzada, market analyst at FOREX.comby FOREXcom1
XAGUSD: Riding the Bullish MomentumOverview: XAGUSD (Silver / U.S. Dollar) is currently in a strong uptrend, fueled by both technical and fundamental factors. Here's a comprehensive look at why silver is trending upwards and how you can potentially capitalize on this movement. Technical Analysis: Descending Triangle Breakout: The chart shows a clear descending triangle pattern, which is typically a bullish continuation pattern. The recent breakout above the descending trendline indicates a significant shift in market sentiment from bearish to bullish. This breakout is confirmed by increased trading volume, indicating strong buying interest and confidence in the uptrend. Higher Highs and Higher Lows: Since the breakout, XAGUSD has been forming higher highs and higher lows, a classic sign of an uptrend. This pattern suggests that buyers are consistently pushing the price higher, overcoming any selling pressure. Support and Resistance Levels: The price has recently broken above previous resistance levels around $30.50-$31.00, which have now turned into support. This flip from resistance to support further reinforces the bullish outlook. Moving Averages: The 50-day moving average is trending upwards, potentially providing dynamic support to the price. The alignment of price above moving averages indicates strong bullish momentum. Fundamental Analysis: Weakness in the US Dollar: A weaker US Dollar often supports higher silver prices since silver is priced in USD. Recent macroeconomic factors, such as dovish monetary policy or concerns about the US economy, have likely contributed to the decline in the USD, benefiting silver. Inflation Concerns: Rising inflation expectations drive investors towards precious metals like silver, considered a hedge against inflation. Increased demand for silver as a safe-haven asset supports higher prices. Industrial Demand: Silver's significant industrial applications, including in electronics and solar panels, boost its demand. Improved economic conditions and technological advancements further increase industrial demand for silver, supporting its price rise. Geopolitical Factors: Geopolitical uncertainties or tensions increase demand for safe-haven assets like silver. Investors often seek the relative safety of precious metals during times of geopolitical instability. Market Sentiment: Positive Market Sentiment: Investor sentiment towards silver has been positive, indicated by increased trading volumes and bullish price action. Positive sentiment is often driven by expectations of future price gains and favorable macroeconomic conditions. Trade Setup: Entry Point: Look for a pullback to the breakout level around $30.50-$31.00, which should now act as support. Enter a long position if the price shows signs of bouncing off this support level. Stop Loss: Place a stop loss below the recent swing low, around $30.00, to protect against a false breakout. Take Profit: Target the next major resistance level around $33.50-$34.00, based on historical resistance levels and the measured move from the breakout of the descending triangle pattern. Risk Management: Ensure a risk-to-reward ratio of at least 1:2. Adjust position size to manage risk within acceptable limits. Conclusion: The uptrend in XAGUSD is driven by a combination of strong technical signals and supportive fundamental factors. Longby felixfenixUpdated 0
Bullish flag Silver has been pretty bullish recently and it only makes sense to follow the trend after a correction. There's still one resistance level to get through before confirming the move up.Longby yann2zenUpdated 1119
SILVER POTENTIAL LONG OPPORTUNITYHello Everyone! How are you all? Silver is an instrument to watch this week, because it is shaping up very nicely for a bullish trend continuation that we can capitalize on. So, I will be looking for a bullish continuation because of the following reasons: 1. The overall trend is bullish. 2. The price has impulse out of the continuation structure. Game Plan: If the price comes to the VA followed by a 15mins flag with two highs and lows. Entry : will look for a risk buy entry within the flag or a reduced risk entry on the breakout of the flag. Longby DTreasureMarketHubUpdated 0
Sell OpportunityThe pair presents an enticing Sell opportunity at the current price of 31.000, with favorable potential for profit. Targets: Primary Target: 30.110 Secondary Target: 29.10 Breakout Scenario: In the event of a breach above the Support level of 28.940, indicative of a bearish breakout, the target price is anticipated to ascend towards 28.000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed buy strategy, suggesting upward pressure on the Silver pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.Shortby GODOCM0
Silver Short Term Buy IdeaH4 - Bullish trend pattern Currently it looks like a pullback is happening Until the two strong support zones hold my short term view remains bullish here.Longby VladimirRibakov4
short silver for long target.shorting with w pattern it's education purpose only.Shortby Siriuswhite555448
SILVER SENDS CLEAR BEARISH SIGNALS|SHORT Hello, Friends! SILVER pair is trading in a local uptrend which we know by looking at the previous 1W candle which is green. On the 9H timeframe the pair is going up too. The pair is overbought because the price is close to the upper band of the BB indicator. So we are looking to sell the pair with the upper BB line acting as resistance. The next target is 29.811 area. ✅LIKE AND COMMENT MY IDEAS✅Shortby EliteTradingSignalsUpdated 115
Silver Forecast: A Potential 10,000 Pip Surge on the Horizon!I understand the title may seem bombastic and possibly clickbaity, but in my view, there's a solid case for OANDA:XAGUSD potentially rising by $10 in 2024. Here's why: Observing the chart, unlike OANDA:XAUUSD , Silver has been trading within a range for precisely a year now, failing to establish new highs. However, on a positive note, since the pandemic low, the price has been forming higher and higher bases, suggesting the potential for building upside momentum in the longer term. From a strictly technical standpoint, as mentioned, we've been stuck in a range for over a year, with a clear resistance level around the $26 zone. If the bulls manage to break above this significant level, considering the one-year-long accumulation, I believe we could witness an explosive rise that might propel Silver to $35, with a potential pit stop at interim resistance around $30. Longby Mihai_IacobUpdated 121225
#silver Silver is approaching a falling trend, if the upcoming data is taken into consideration, a resistance break is possible. alarms have been set.Longby foxforex33
XAGUSD ( UNDER UPWARD PRESSURE ) ( 4H )XAGUSD HELLO TRADERS Tendency under bullish pressure after the price create a bullish flag pattern TURNING LEVEL : a blue line between resistance and support level around 30.05, indicates if the price stabilizing above this level reach resistance level , if the breaking turning level reach a support level RESISTANCE LEVEL : there is a green line around 30.84 and 31.49 , indicates selling have already increase this level , so if the price stable turning level reach this level SUPPORT LEVEL : there is a red line below turning level around 29.39 and 28,88 , indicates buying have already increase this level , so if the price breaking turning level reach this level PRICE MOVEMENT : maybe first the price will trying to dropping turning level around 30.05 , after rising to the resistance level around 30.84 , then stable above this level reach 31.49 , if the price breaking turning level reach a support level at 29.39 , then stabilizing below this level reach a 28,88 TARGET LEVEL : RESISTANCE LEVEL : 30.84 , 31.49 SUPPORT LEVEL : 29.39 , 28,88 Longby ArinaKarayiUpdated 14
Silver (XAGUSD) Looking for Dips to Find SupportShort Term Elliott Wave View in Silver (XAGUSD) suggests that pullback to 28.58 ended wave (4). The metal has turned higher again in wave (5) as the 1 hour chart below shows. It still needs to break above the previous wave (3) peak at 32.51 to rule out a larger double correction. Up from wave (4), wave (i) ended at 28.95 and wave (ii) ended at 28.66. Wave (iii) higher ended at 29.25, and pullback in wave (iv) ended at 28.76. Wave (v) ended at 29.62 which completed wave ((i)). Pullback in wave ((ii)) ended at 28.94. The metal has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 29.81 and pullback in wave (ii) ended at 29.3. Wave (iii) higher ended at 30.66 and pullback in wave (iv) ended at 30.19. Final wave (v) higher ended at 30.69 which completed wave ((iii)). Pullback in wave ((iv)) ended at 30.1 and the metal has resumed higher in wave ((v)) towards 31.49 which completed wave 1 in higher degree. Wave 2 pullback is now in progress to correct cycle from 6.26.2024 low. The internal subdivision of the pullback is in the form of 7 swing double three Elliott Wave structure. Down from wave 1, wave ((w)) ended at 30.4 as a zigzag. Wave ((x)) bounce is in progress, after which another leg lower in wave ((y)) should happen in 3 waves to complete wave 2. Near term, as far as pivot at 28.58 low stays intact, expect pullback to find support in 3, 7, 11 swing for further upside.by Elliottwave-Forecast3
SILVER My Opinion! SELL! My dear friends, Please, find my technical outlook for SILVER below: The price is coiling around a solid key level - 31.223 Bias - Bearish Technical Indicators: Pivot Points High anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 30.522 Safe Stop Loss - 31.696 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK Shortby AnabelSignalsUpdated 119
Silver: Thoughts and Analysis Today's focus: Silver Pattern – resistance stall, continuation Support – $28.70 Resistance – $31.30 Hi, traders. Thanks for tuning in for today's update. Today, we are looking at Silver on the daily chart. As per most reports, we have started looking out, highlighting the main trend and key points before moving into the current price action. Looking at the current break higher and resistance point, will we see the current continuation contnue? We have run over what we are looking for to confirm this and some warning signs to watch out for as well. Good trading.Editors' picksLong04:22by Eightcap44131
SILVER (XAGUSD): Pullback From Support Silver may bounce from a solid intraday structure support. The price formed a cup & handle pattern after its test. Its neckline breakout is a strong bullish signal. The price may reach 1.313 level soon. ❤️Please, support my work with like, thank you!❤️ Longby VasilyTrader4423
Silver May Lose Ground Ahead of the US CPI DataSilver May Lose Ground Ahead of the US CPI Data Over the past week, silver recovered almost 8.6% of its value. On Friday afternoon the price reacted during the NFP data by testing a resistance zone dating back a month. The 31.50 resistance area appears very strong and the price has already reacted. Given that the US CPI data is also key for this week, all eyes will be on the opening of the US Market on Thursday, JULY 11. This uncertainty over the CPI data could push the price of silver down, as shown in the chart. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️Shortby KlejdiCuni5521
SILVER.. at today supporting area? hold or not???#SILVER.. perfectly placed day low according to our video analysis and keep close that region because its our today most importnat region as a supporitng area. if market hold it that only case you can see again bounce from here other not. that region is 30.90 around. good luck trade wiselyby AdilHussain7313332
SILVER (XAGUSD) 04/02/2024Purple Box: Bearish (21.6 - 22.1p/o) Blue Box: Bullish 1.(25 - 25.6) 2.(28 - 28.7p/o) Bullish Scenario Silver's a very under priced metal, I'm thinking because countries are stock piling more gold they should also be doing the same with silver... Prise is finding or has found support above 22p/o and so a push upwards towards 25 is highly probable... If we call our last push down a retrace, we hit 60-70%(discount?) Bearish Scenario There is a high probability of being bullish, but the markets the market and a fall shouldn't be ruled out... A break below the purple box with resistance then found and a fall to 18p/o is likely... (bias change) We could be forming an ascending triangle... So one more rejection of 25p/o and then a full pullback climb to 28p/o or passed. Longby DENCHMONUpdated 116
Sell Opportunity The pair presents an enticing buy opportunity at the current price of 31.000, with favorable potential for profit. Targets: Primary Target: 30.110 Secondary Target: 29.10 Breakout Scenario: In the event of a breach above the Support level of 28.940, indicative of a bearish breakout, the target price is anticipated to ascend towards 28.000. Technical analysis indicates a notable buying sentiment prevailing in the market at the present price level. Fundamental factors align with the proposed buy strategy, suggesting upward pressure on the Silver pair. Prudent risk management measures should be employed to mitigate exposure to potential adverse market movements. Disclaimer: This analysis is provided based on current market conditions and historical price data. Traders are advised to conduct independent research and exercise caution, employing appropriate risk management techniques, before executing any trading decisions.Shortby GODOCM116
XAGUSD SILVER Robbery Plan To Loot MoneyMy Dear Robbers / Traders, This is our master plan to Heist XAGUSD 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. 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. Stop Loss : Recent Swing Low using 3h timeframe 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 💰💵 Join your hands with US. Loot Everything in this market everydayby Thief_TraderUpdated 3
XAG----usd----Bullish updatedtake entry from resistance become support as this point is FIB 0.6 level there is no divergence in H1 and H4Longby ali110021
Silver Pullback - Fib come into PlayLast week silver break's its extended short term trend and finally make the move upward. After printing HH and HL structure the metal is ready for a pullback. The question to ask as a trader where to enter and what will be the SL? 0.382-0.5 fib level seem to be the major confluence point as TL support lies there and a major support area where previously the price showed consolidation before moving up. The EP and SL is mentioned with TP. Longby kiki_crypto1