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
Bullish
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
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
  • House Financial Services Committee schedules second GameStop hearing for March 17 - BBG $GME
  • Speaker Pelosi says minimum wage increase will not be removed from House Covid bill - BBG
  • Asia-Pacific equities opened broadly lower amid a 'risk off' sentiment following a sour lead from Wall Street overnight. Rising yields and a stronger US Dollar exerted downward pressure over risk assets. https://www.dailyfx.com/forex/market_alert/2021/02/26/Dow-Jones-Falls-on-Rising-Yields-ASX-200-Nikkei-225-Tumble-.html https://t.co/3p7prANkLA
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD.Get your $AUD market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/MD0ppnO7t6
  • RT @FxWestwater: $NZDUSD, $NZDJPY React as Soaring Treasury Yields Skew Market Risk Profile Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/02/26/NZDUSD-NZDJPY-React-as-Soaring-Treasury-Yields-Skew-Market-Risk-Profile.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $TNX https://t.c…
  • Biden authorized strikes on Iran-backed militant groups. Strike was in response to attacks on US, coalition forces -BBG citing DOD #CrudeOil
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here:https://t.co/KYdUv2lpFC https://t.co/ZZUJ4AZEhc
  • Market Snapshot: Risk aversion is deepening as Friday APAC trade gets going $NZDUSD and $AUDUSD sinking Following declines in #SP500 and #Nikkei225 futures #USD broadly higher, anti-risk Japanese #Yen as well US 10-Year Treasury rates remain higher https://t.co/gQ50vS73P0
  • RBNZ's Orr: To consider settings against types of home lending, financial stability policies can help government housing objectives -BBG
  • RBNZ's Orr: Only focused on inflation, employment targets -BBG
Silver Prices: Picking Up Loose Change in the Range, Scalpers' Market

Silver Prices: Picking Up Loose Change in the Range, Scalpers' Market

Paul Robinson, Strategist

What’s inside:

  • Range contain remains for the swing trader
  • Triangle broken to the down-side in line with short-term trend
  • Scalpers can look to trade along path of least resistance towards 19.20 support level

In Tuesday’s commentary it was reiterated that the range in silver prices is likely to continue for the foreseeable future, which doesn’t make for the most exciting trading environment. Our game-plan has been, and continues to be, one of patience until we reach either the upper (~20.60/75) or lower (~19.20) bounds of the range before looking to establish a trade in the opposite direction on a swing trade basis, price action willing. Should one side of the range break with conviction, then we would look for a pullback retest before possibly taking entry (More on that later…)

The middle of the range, where we live now, is left to the scalpers; those who are trading with time-frames of a few minutes to a few hours.

Yesterday, we highlighted a triangle building within the range, one which could break in either direction, but, again, given the broader range we are not inclined to become involved. The lower trend-line of the developing triangle broke to the down-side, in line with the trend of lower highs and lower lows since the 8/10 peak. For the very short-term-minded trader this helps clarify the path of least resistance in the short-run and opens the door up for a move to the low-end of the range around 19.20.

As long as the sequence of lower highs and lower lows continues, then we look to 19.47, 19.30, and 19.20 as the next levels of support. Keep an eye on the lower parallel of the trend-line off the 8/10 swing high as support, too. It would require a turn back above yesterday's high and the top-side parallel to bring the current downward trend structure under fire.

Silver Prices: Picking Up Loose Change in the Range, Scalpers' Market

The current set-up and general environment in precious metals is best left up to those looking for scalps of a few cents here and there, as risk/reward from a swing trade standpoint continues to be unfavorable at this time.

Track trader sentiment in real-time via the DailyFX ‘Speculative Sentiment Index’, or ‘SSI’.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX.

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

DISCLOSURES