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
EUR/USD
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
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
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
Mixed
More View more
Real Time News
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/W9awqb818J
  • There is a great debate about which type of analysis is better for a trader. Is it better to be a fundamental trader or a technical trader? Find out here: https://t.co/aVAzFypAg1 https://t.co/lucvsACxu5
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/yywnE39MLU
  • The US Dollar is losing ground against ASEAN FX, with USD/SGD and USD/IDR possibly readying to extend declines. Will USD/PHP and USD/MYR follow? Find out from @ddubrovskyFX here: https://t.co/l705RWumj5 https://t.co/jBbMKYp0F5
  • 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/YUhC9cCDpy
  • The US Dollar has spent much of October giving back September’s gains. Is there any hope for change? Get your #currencies update from @JStanleyFX here: https://t.co/3EHa6PV5yH https://t.co/PrP9J2klJk
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/UalZ8cRSXB https://t.co/wDVd2QvcjO
  • The longer-term EUR/USD outlook will hinge on Thursday’s ECB guidance; any hint of a further easing of Eurozone monetary policy would weaken it, but that is far from guaranteed. Get your #currencies update from @MartinSEssex here: https://t.co/RmHCfIwdqp https://t.co/hvETa6mtft
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/M8WTvZgx2K
  • The Australian Dollar was under selling pressure this past week, but it held its ground. Bearish patterns brew in AUD/USD and AUD/JPY. Will EUR/AUD, GBP/AUD try to break higher again? Get your #currencies update from @ddubrovskyFX here: https://t.co/04kzJSqgNG https://t.co/ulPk1UneMM
Silver Outlook – Taking Cues from Gold Trading at Key Price Zone

Silver Outlook – Taking Cues from Gold Trading at Key Price Zone

2017-05-25 11:33:00
Paul Robinson, Strategist
Share:

What’s inside:

  • Gold, silver bouncing into resistance
  • Taking cues from gold with its cleaner picture
  • Neutral to bearish as long as resistance stays in place

Find out what’s driving precious metals in our market forecasts.

Precious metals have been in bounce-mode the past couple of weeks, but can the bounce turn into something more? Silver hasn’t had the cleanest levels to work with, which is why we’ve deferred to gold instead to help shape our outlook. Gold is up against a solid area of resistance in the low-1260s along with the underside of the trend-line extending higher from December; it’s backed off a couple of times in the past week but continues to hang tough. If gold doesn’t soon turn lower then probability increases it will make a serious run at overcoming the recent swing high at 1265 towards a much more important area of resistance. On a break above there isn’t much room left for gold to run before the long-term 2011 bull/bear line-in-the-sand becomes another obstacle, a much larger obstacle to overcome. Macro-speaking – stay below, then big-picture bias remains neutral to bearish; make a break above and things could quickly become interesting from the long-side.

Gold: Weekly

Silver Outlook – Taking Cues from Gold Trading at Key Price Zone

Daily

Silver Outlook – Taking Cues from Gold Trading at Key Price Zone

So, to answer the earlier-proposed question – there is still a lot of work to be done before gold (and silver) can go from bouncing into a full-blown rally.

Looking at price action in silver over the near-term, while gold struggles to overcome the low-1260s silver is trading around a trend-line running under swing-lows in January and March. A bearish reversal bar was put in on Tuesday, but has yet to lead to any follow-through. A break above the Tuesday high at 17.31 will negate the reversal bar.

Silver: Daily

Silver Outlook – Taking Cues from Gold Trading at Key Price Zone

For now, the picture is a bit murky in silver, but looking to gold as long as the yellow metal stays below 1265 then the bias for precious metals as a whole is neutral to bearish over the near-term. A break above resistance in gold could bring in some short-term momentum but efforts to push higher may be quickly thwarted by the 2011 bull/bear trend-line.

Paul conducts webinars every week from Tuesday-Friday. See the Webinar Calendar for details, and the full line-up of all upcoming live events.

---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