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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
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
Wall Street
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
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
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
  • #FTSE 100 and S&P 500 could have room for weakness ahead as the #CAC 40 attempts to climb towards key resistance. Get your European #equities update from @ddubrovskyFX here:https://t.co/gepciUHqxT https://t.co/j1ONIxOoT7
  • Market snapshot: #AUD, #NZD edging slightly lower while US equity futures are trading mixed.
  • Update on #Cryptocurrencies #BITCOIN +3.19% #BITCOINCASH +1.80% #ETHEREUM +2.25% #RIPPLE +1.07% #LITECOIN +2.33%
  • $EURUSD Daily Pivot Points: S3: 1.0802 S2: 1.0883 S1: 1.0933 R1: 1.1014 R2: 1.1046 R3: 1.1127 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • So far this week, those fortunes have flipped as the Nasdaq is working on its second consecutive down-day while the Dow has, so far, rallied through both sessions. Get your #equities technical analysis from @JStanleyFX here:https://t.co/uafQxTayEY https://t.co/7iGh15koeL
  • That was an impressive recovery from the #SP500 during the #WallStreet session. What's interesting to see is the pro-risk #AUD and #NZD being unable to capitalize nearly as much versus stocks. Could momentum be fading? #USD $AUDUSD $NZDUSD https://t.co/YBg6wzgG2i
  • The U.S. House passes the Uyghur Human Rights Policy Act $FXI $USDCNH
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.25% 🇨🇦CAD: 0.20% 🇯🇵JPY: -0.16% 🇨🇭CHF: -0.27% 🇦🇺AUD: -0.43% 🇬🇧GBP: -0.60% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WUkvzm2KzY
  • Silver has been beaten handily by gold in the rush to haven assets inspired by the contagion. However, the gold/silver ratio was rising steadily before this crisis and will probably continue to do so. Get your #silver market update from @DavidCottleFX here:https://t.co/00DiZn6XZS https://t.co/ygkaj7nHr6
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 0.83% Gold: 0.06% Oil - US Crude: -2.72% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/fmPVQRIybZ
Will the Price of Silver Extend Its Gains?

Will the Price of Silver Extend Its Gains?

2016-03-22 12:41:00
Alejandro Zambrano, Market Analyst
Share:

Talking Points

  • Silver remains bullish above last week’s low of $15.21.
  • On a break to last week’s high of $16.16, the price may reach the October 15 2015 high of $16.24.
  • Markit U.S. manufacturing PMI is seen at 51.9 from 51.3 according to a Bloomberg news survey.

The multi-day trend for silver prices remains bullish above last week’s low of $15.21 and prices may reach last week’s high of $16.16, followed by the October 15, 2015 high of $16.24.

Traders who are not long and would like to take advantage of the trend might wait for a pullback to the $15.79 - $15.57 range. Here price would be neutral in relation to the bullish trend and may encourage traders to turn bullish. The range is derived using Fibonacci retracement and a mixture of last week’s low of $15.21 and last week’s high of $16.16. Both are used as points of reference here.

To date, price reached this range in yesterday’s session, but we can’t rule out another test of the range.

On a break to last week’s high of $16.16, we may see a test to the October 15, 2015 high of $16.24, followed by the June 18, 2015 high of $16.49.

For the trend to turn bearish, price would need to slide below and break last week’s low of $15.21.

Markit U.S. manufacturing PMI is on deck today and is seen at 51.9 from 51.3 according to a Bloomberg news survey. A very strong beat to the expected figure may strengthen the Dollar and soften silver, with the opposite also being true.

Download the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

Silver Price | FXCM: XAG/USD

Please add a description for the image.

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

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

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

DISCLOSURES

News & Analysis at your fingertips.