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
EUR/USD
Bullish
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
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/fA7G42tGcH
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkd4B0k https://t.co/8cM3NQIvom
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/tEpCHQDoVW
  • A punny excerpt: “Already the exchanges between Mr. Barnier and his counterpart David Frost, have – apropos to his name – sent a chilling message about bilateral trade talks”. https://t.co/OkFCvUZs2H
  • #BritishPound May Fall on #Virus-Hit GDP Data, #Brexit Stalemate ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/08/08/British-Pound-May-Fall-on-Virus-Hit-GDP-Data-Brexit-Stalemate.html
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/BuFKivwj2h
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
Silver Price Technical Update: Treading Water, USD Not Helping

Silver Price Technical Update: Treading Water, USD Not Helping

2017-02-10 12:46:00
Paul Robinson, Strategist
Share:

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.

DISCLOSURES

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.