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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • The US Dollar (via the DXY Index) has hit fresh lows amid the latest headlines around US fiscal stimulus talks. Get your market update from @CVecchioFX here:
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: 0.22% Oil - US Crude: 0.14% Silver: -0.21% View the performance of all markets via
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.12% 🇨🇭CHF: 0.09% 🇪🇺EUR: 0.08% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.03% 🇳🇿NZD: -0.03% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 94.68%, while traders in EUR/USD are at opposite extremes with 73.16%. See the summary chart below and full details and charts on DailyFX:
  • The British Pound is eyeing a push to fresh yearly highs against the US Dollar. However, various technical setups suggest GBP could lose ground to JPY, EUR and NZD in the near term. Get your $GBP market update from @DanielGMoss here:
  • The Dow Jones index appears to be ranging between 22,920 to 30,000 over the past few weeks. The overall trend remains bullish biased, but its upward momentum is fading as Bollinger Band width narrows. A decisive break above 30,000 resistance may open the door for further upside.
  • Update on #Cryptocurrencies #BITCOIN -0.46% #BITCOINCASH -0.24% #ETHEREUM -0.78% #RIPPLE +0.83% #LITECOIN +0.77%
  • Wall Street Futures Update: Dow Jones (-0.110%) S&P 500 (-0.082%) Nasdaq 100 (+0.086%) [delayed] -BBG
  • 🇨🇳 Caixin Services PMI (NOV) Actual: 57.8 Previous: 56.8
  • BoJ's Suzuki: - Flexibility and sustainability in policy is vital - Supporting growth strategy in the long term is vital - Must support labor market - BBG $USDJPY
Silver Prices: Traders Still Aiming For New Lows

Silver Prices: Traders Still Aiming For New Lows

2015-11-24 15:30:00
Alejandro Zambrano, Market Analyst

Talking Points

  • Trend remains bearish below $14.40 despite, USD pulling back and risk-aversion increasing on the back of the downing of a Russian warplane by Turkey
  • Today’s data batch was mixed and there is no strong compelling reason to expect the price of silver to break its downward trend

The price of silver is higher by 0.70 percent in today’s session as the USD gives back some of its gains and as risk-aversion picks up as the markets digest the news of a Russian Jet being shot down by Turkey.

What are the most common trading mistakes? Get the Traits of Successful Traders Guide

Technical Outlook

The technical trend remains bearish below the November 20 high of $14.40, and as long as this level caps the price of silver, I am expecting a decline to $13.80 and $13.50.

In the case $14.40 fails to keep the trend bearish, it would be fair to expect a short squeeze taking price to $14.80 (a 38.2 percent decline from $16.33) and then $15.12 (a 50 percent correction). This may take several days to complete as the long-term fundamentals still favor the downside. The main driver is a stronger dollar and expectations of a rate increase in December.

Data Overview – No Strong Reason To Buy Silver

German IFO index increased by 109 vs. a Bloomberg estimate at 108.2.U.S. and GDP met consensus expectations, increasing by 2.1 percent QoQ (annualized). U.S. house prices also rose by 5.45 percent YoY vs. a Bloomberg estimate of 5.10 percent. On the soft side; U.S. Consumer confidence printed 90.4 vs. 99.5 expected, whilst Richmond Fed Mfg. Index printed -3 vs. estimated -1.

U.S. yields (at the point of this writing this article) were not suffering any major losses on the back of the data prints and would therefore suggest that there is no strong reason for silver prices to rise.

Suggested Reading: WTI Crude Oil Price Forecast: Oil Rises Alongside Syrian Tensions

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

Learn more about trading, join a London Seminar

To be added to Alejandro’s e-mail distribution list, please fill out this form

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