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
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 6.25% Expected: 6.25% Previous: 5.25%
  • But ,how do you really feel?
  • Central Bank of Brazil sees an additional 100 bps rate hike in October - BBG
  • Brazilian Central Bank hikes 100bps as expected. We have to split hairs for 'hawkish/dovish' in the Fed's views. Pretty straightforward here...
  • Central Bank of Brazil: - Raises Selic rate by 100 basis points to 6.25% - BBG
  • ARKK Innovation (ARKK), the EFT created by Cathie Wood that epitomizes disruptive growth investing, has trended downwards since Sept. 7 after failing to clear resistance in the 126.50 area. Get your market update from @DColmanFX here:
  • Speaking of monetary policy changes, the Brazilian central bank is due to announce its updated policies and the economist consensus is for a 100bp hike to 6.25%. Keep an eye on $USDBRL. Scenario with the most market-moving potential in my book would be a hold and USDBRL rally
  • The implied rate hikes from the Fed through the end of next year (Dec 2022 vs current Fed Fund futures contracts) jumped after today's FOMC report. Goes a long way towards explaining the $DXY Dollar jump here
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 6.25% Previous: 5.25%
  • The corrective pullback still seems to be in play but the drop below 109.00 has been in the works for too long now, which is a sign of concern for bears. Get your $USDJPY market update from @HathornSabin here:
Silver Price Technical Update: Treading Water, USD Not Helping

Silver Price Technical Update: Treading Water, USD Not Helping

Paul Robinson, Strategist

What’s inside:

  • Silver sitting above the July trend-line, struggling to gain momentum with USD strength
  • Bottoming formation still in play as long as it doesn’t break key downside levels
  • Bottom and top-side levels in focus

Looking for trading ideas? See our Trading Guides.

On Tuesday, we said we were looking for silver to create separation from the July trend-line given it had just slightly edged above it at that time. It continues to try and make further head-way beyond trend-line resistance (now support), but is struggling to gather momentum with the US dollar gaining strength.

The inverse H&S formation we’ve been discussing will remain in play as long as silver doesn’t crack down below the July trend-line and head sharply below the neckline and support in the low 17s. It would really take a lower low below the 1/27 low at 16.64 to take the H&S completely off the table.

For now, we will look for silver to maintain above the July trend-line and continue to try and push higher. On Wednesday, silver stopped just shy of the 200-day MA at 17.87. It is viewed on this end as only minor resistance, and if silver is to make good on its bottoming formation then it should trade above it soon.

Further strength will bring into play the top-side parallel from the trend-line running up from the December low, but is also viewed as minor resistance. The area surrounding 18.50, however, could present problematic. A swing low was created around there back in August, and during November it made several strong pushes above but was unable to sustain, with most of the daily closes falling right around 18.50. The eventual target is the November high at 19, which also aligns with the measured move target determined by the depth of the inverse H&S pattern.

Silver: Daily

Silver Price Technical Update: Treading Water, USD Not Helping

Created with Tradingview

See the Webinar Calendar for a schedule of upcoming live events with DailyFX analysts.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing 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.