EUR/USD 1.02549
-0.429%
Gold 2682.44
0.450%
Oil 76.109
3.248%
USD/JPY 158.556
0.276%
GBP/USD 1.22301
-0.622%
GBP/JPY 193.917
-0.338%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On January 10, Michael Brown, senior research strategist at Pepperstone, said, "I think the non-farm payrolls report will only encourage the dollar to continue to rise, which has been the markets preference for some time. It will certainly help reinforce the theme of "American exceptionalism" and should keep the Federal Reserve relatively hawkish compared to other members of the G10 group. The biggest risk to the bullish view of the dollar is that market participants may seek to take profits/cut positions before Trumps inauguration early next week."On January 10, according to the Yemeni Houthi armed forces, the Amran Province in northwestern Yemen was hit by US and British air strikes on January 10 local time. In addition, CCTV reporters learned that explosions were heard in the Yemeni capital Sanaa.The main crude oil futures contracts continued to rise, among which fuel oil rose by 4.57%, SC crude oil rose by nearly 4%, and low-sulfur fuel oil rose by nearly 3%.On January 10, market analyst Enda Curran said that although this is not the final data for 2024 and there is a high probability of revisions, it confirms that the US economy is still in good shape, companies are hiring, and there are plenty of jobs. The downside is that people have begun to worry that progress in the fight against inflation will stagnate, and these data do not support the dovish view.Tip: The unrounded U.S. unemployment rate in December was 4.0855%, compared with 4.2457% in the previous month.

Analysis of the Silver Price: XAG/USD declines toward $18.30 crucial support

Alina Haynes

Oct 21, 2022 14:58

 截屏2022-09-23 下午2.30.27.png

 

During Friday's Asian session, the silver price (XAG/USD) declines from its weekly high to $18.60, inching closer to the major trend line support. In doing so, the precious metal pares yesterday's gains while positioning itself for a favorable weekly close.

 

However, the metal's inability to breach the 50-SMA during the previous day's rally, combined with the steady RSI (14) keeps sellers optimistic.

 

As a result, the XAG/USD exchange rate may attempt for the fourth consecutive time to breach the upwardly sloping support line from early September, which was at $18.30 at press time.

 

Notably, the death cross on the four-hour chart lends power to the metal's bearish bias, suggesting a clear break of the $18.30 support, which in turn might push the price towards the yearly low around $17.55.

 

The death cross occurs when the 50-SMA falls below the 200-SMA and is often advantageous for sellers. Notable also is that the lows established in October and late September, around $18.00, could serve as additional downside filters for silver bears to monitor.

 

In the meantime, recovery moves must not only surpass the 50-SMA hurdle of $18.80 but also remain above the 200-SMA level of $19.23 in order to satisfy buyers.


Suggestion