XAG/USD: general analysis

OANDA:XAGUSD   白銀 / 美元
67 1
Current trend

From the last week silver from is growing alongside the commodity assets and currencies. It reached its 5 year minimum and began to grow from the zone above the level of 16.00 USD per ounce. On the daily chart it’s clear that after the reaching the zone of 15.60-16.00 silver begins to be actively purchased during the year. The reaction of the price to the lower border of the D1 channel (blue) is clear too: the border has been the trend line for the price for more than a year. The strong consolidation of the price above the line can reflect the further growth and the reaching the next levels upwards.

As for the macroeconomic releases, the trader should pay their attention to the USA news.

On 14:30 (GMT+2) the USA Initial Jobless claims data will be published (the index is expected to grow to 240K in a week from 236K in the previous week), Philadelphia Fed Manufacturing Survey (the index is expected to lower to 19.5 points in May from 22.0 points in the previous month). The FOMC Member Mester speech is due at 19:15 (GMT+2).

The further growth of silver is expected in the nearest two days.

Support and resistance

Support levels: 16.80, 16.45, 16.00, 15.60.

Resistance levels: 17.10, 17.35, 17.70, 18.25.

Trading scenario

Open long positions at the current price with the target at 17.10, 17.35, stop loss is at 16.50.

Open short positions at the level of 16.80 with the target at 16.00, 15.60, stop loss is at 17.40.

Implementation period: 2-3 days.

Register on LiteForex site and get more analysis
Thank you
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人資料 個人資料設定 帳戶和帳單 我的客服工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出