News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • $AUDCAD has continued to weak today, now trading around the 0.9800 level. The pair is down almost 200 pips from the multi-year highs hit just shy of the 1.0000 level yesterday. $AUD $CAD https://t.co/hffaXojF5j
  • $Gold trying to build a base off of that 1725 level - one minute chart so super small sample size. but that bearish run was aggressive $GC $GLD https://t.co/USjAU0lcig https://t.co/uubVG4Jpe2
  • Now up 40 handles from the $SPX's stalled break down. Looks like we are in for yet another interesting, intraday volatility day
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.19% 🇯🇵JPY: -0.33% 🇪🇺EUR: -0.41% 🇨🇦CAD: -0.45% 🇳🇿NZD: -1.11% 🇦🇺AUD: -1.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/e6FkqKIOLF
  • - There’s No Fundamental Justification For A Tightening Of Nominal Bond Yields At The Long End - Governing Council Should Instruct Board At March 11 Meeting To Fight Unwarranted Tightening Of Financing Conditions
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -0.17% Germany 30: -0.70% Wall Street: -0.85% France 40: -1.46% FTSE 100: -2.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/rgg0WIgTxK
  • ECB's Stournaras says ECB should accelerate PEPP purchases
  • Another brutal day for gold as it breaks beneath prior February lows Read more - https://www.dailyfx.com/forex/market_alert/2021/02/25/Gold-Price-Plummets-as-Treasury-Yields-Soar-Where-to-Next-for-Gold.html?ref-author=phanks&QPID=917701&CHID=9 $GLD $XAU https://t.co/5qpaELXVLz
  • $Gold sell-off getting nasty just started to test 38.2 of the 18-20 major move ~1725 $GC $GLD https://t.co/1cb3hjRAR2 https://t.co/nXy6gomZU0
  • Gold printed a fresh eight-month low earlier in today’s session and the precious metal looks set to fall further if US Treasury yields resume their multi-month rally. Get your $XAUUSD market update from @nickcawley1 here:https://t.co/I4RpWM0mEY https://t.co/OrtbLLncuK
Silver (XAG/USD) Steps Back After Fed Meeting Drives Demand Higher

Silver (XAG/USD) Steps Back After Fed Meeting Drives Demand Higher

Tammy Da Costa, Markets Writer

Silver Price Forecast:

Advertisement

Fundamental drivers have continued to support the demand for Silver, Gold and other safe-haven assets as additional Fiscal aid and the Fed’s further dovish tone continue to supportrisk-on sentiment. Despite a combination of the vaccine rollout program and a drastic decrease in the number of Coronavirus cases both contributing to renewed hopes of an economic recovery, inflationary concerns ensuing from the Federal Reserve’s continued dovish tone have hindered the ability for US Dollar bulls to achieve further gains, with Fed Chairman Jerome Powell emphasizing both the importance and necessity of the larger stimulus package, with higher employment remaining at the forefront of policy objectives for the foreseeable future.

Visit the DailyFX Educational Center to discover why news events are Key to Forex Fundamental Analysis

Silver (XAG/USD) Technical Analysis

With Silver prices catalyzing off of US Dollar weakness,price action remains encapsulated within the boundaries of the symmetrical triangle, currently holding both bulls and bears at bay, for now.

Building Confidence in Trading
Building Confidence in Trading
Recommended by Tammy Da Costa
Building Confidence in Trading
Get My Guide

Silver (XAG/USD) 2 Hour Chart

Silver (XAG/USD) Steps Back After Fed Meeting Drives Demand Higher

Chart prepared by Tammy Da Costa, IG

Meanwhile, key Fibonacci retracement levels of the 2008 – 2011 historical move continues to provide support and resistance for XAG/USD, with the Commodity Channel Index (CCI) falling back within range after Silver bulls failed to surpass the key psychological level of 3000 earlier this month.

Silver (XAG/USD) Daily Chart

Silver (XAG/USD) Steps Back After Fed Meeting Drives Demand Higher

Chart prepared by Tammy Da Costa, IG

For now, support potential remains around the key psychological level of 2600 with the 50% Fibonacci retracement level providing additional support at 2409.8.

On the contrary, resistance remains at 2800, with the 50% Fibonacci retracement level forming an additional layer of resistance at 2906.2.

Silver Client Sentiment

Silver (XAG/USD) Steps Back After Fed Meeting Drives Demand Higher
Silver BEARISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily 0% -27% -3%
Weekly -5% -23% -6%
Learn how to use Sentiment in your trading strategy
Get My Guide

At the time of writing, retail trader data shows 89.18% of traders are net-long with the ratio of traders long to short at 8.24 to 1. The number of traders net-long is 3.98% lower than yesterday and 6.93% lower from last week, while the number of traders net-short is 1.38% lower than yesterday and 18.31% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Silver prices may continue to fall.

Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed Silver trading bias.

--- Written by Tammy Da Costa, Market Writer for DailyFX.com

Contact and follow Tammy on Twitter: @Tams707

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES