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. See our updated Privacy Policy here.



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
More View more
Real Time News
  • Tech stocks not having a good day, but cyclicals are on fire. Energy and financials sharply higher, materials also in positive territory. $ARKK about to break a double top pattern support #trading $XLE $XOP $XLF $XLB
  • Treasury bond yields extending their push higher across the curve. Ten-year just pierced 1.50%, five-year trading at its steepest level since Feb 2020. This brings the Nasdaq 100 to Russell 2000 ratio into focus with growth underperforming value amid rising rates. $NDX $RUT $TNX
  • $USDMXN gains ground at the start of the week, bolstered by higher US Treasury rates. For reference, the US10 yield briefly climbed to 1.51% this morning, its highest level since late June #trading #TRMX
  • The US Dollar Index (DXY) is trending higher and on the verge of testing an important set of resistance levels as we head towards the final frame of the year. Get your $USD market update from @PaulRobinsonFX here:
  • Yen weakness has been one of the clear takeaways post-FOMC. If US rates are heading higher as the Fed forecasts, could be some compelling trends develop in $JPY, similar to Q1 $USDJPY testing a key r level, but a bigger r zone overhead. Caught the high in 2019, 2020 and 2021
  • UST 5 years near 1%...$61 billion on sale later today. #UST #bonds #yields @DailyFXTeam
  • 🇺🇸 Durable Goods Orders Ex Transp MoM (AUG) Actual: 0.2% Expected: 0.5% Previous: 0.8%
  • sellers showed up in $ES around the Euro open, wiped out the earlier gain from the Asian session $SPX $SPY
  • 🇺🇸 Durable Goods Orders MoM (AUG) Actual: 1.8% Expected: 0.7% Previous: -0.1%
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the September Close -
Silver Prices Expected to Continue Lower, NFP Friday Coming Up

Silver Prices Expected to Continue Lower, NFP Friday Coming Up

Paul Robinson, Strategist

What’s inside:

  • Silver looking to make good on the bearish reversal day on Monday
  • 16.18 held twice last week, a break expected to lead to a quick drop into the 16/15.80 target zone
  • US jobs data due out tomorrow

To receive Paul’s analysis directly via email, please sign up here.

Earlier in the week we discussed Monday’s bearish reversal day in silver prices, and asked whether or not it would lead to the same outcome as last week (immediately lower prices following the bearish reversal bar on 11/22), or was there possibly a bullish scenario setting up behind the scenes on the intra-day time-frame. As per usual, we gave the benefit of the doubt to the higher time-frame, and has thus far been the correct view.

Since Monday, silver prices have weakened a bit, and while not as quickly as they did following the reversal bar on 11/22, the outcome is generally the same – lower. Yesterday's failure to push higher again helps forge the case for shorts.

Gold has been the better market for sellers, however, with major support in the 1190/1200 region having been broken last week and the metal unable to recapture. We are still looking for our comparable support zone in silver, 16/15.80. It’s taking some time to get there, but the path of least resistance suggests we will see it sooner rather than later. At this time, it would require a close back above the Monday high of 16.86 for us to consider alternative paths.

On the downside, 16.18 held on two different days last week, and has become a short-term line-in-the-sand. The double hold to almost the penny tells us that a break is likely to lead to a quick drop into our target zone very quickly thereafter.

Silver: Daily

Silver Prices Expected to Continue Lower, NFP Friday Coming Up

Created with Tradingview

Data heads up: Tomorrow, the monthly US jobs data will be released at 13:30 GMT. The market is looking for a NFP figure of 175k for November, while the unemployment rate is expected to hold steady at 4.9%. Also of interest will be the participation rate and signs of wage inflation via the average hourly earnings, which is currently at 2.8% YoY. The outcome of the jobs report could be the catalyst to see silver to our target. With that said, though, don't expect lasting follow-through on the jobs data with the market (via Fed fund futures) pricing in a nearly 100% chance of a rate hike at the December FOMC meeting.

Join Paul tomorrow at 10 GMT time for a look at his NFP game-plan, as well as charts of interest. For a full list of live events, please see our webinar calendar.

---Written by Paul Robinson, Market Analyst

If you would like to receive Paul’s analysis directly via email, please sign up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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