SILVER (XAGUSD): Detailed Multiple Time Frame Analysis 🪙
Daily/4h time frames analysis for Silver.
Price action & key levels.
Directional bias & thoughts.
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Silver
Strifor || USDJPY-26/04/2024Preferred direction: SELL
Comment: The long-awaited meeting of the Bank of Japan took place, at the moment it is best to focus on technical analysis. Previously, we published two scenarios where scenario №2 is already active. Everything is unchanged here and most likely near the level of 157 , we can expect a fall with a target at the level of 153.222 .
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Strifor || GBPUSD-26/04/2024Preferred direction: BUY
Comment: The British , just like the euro , has fully worked out all of our previous trading ideas that we published earlier. Buy-priority remains relevant, but growth is more limited. It should also be noted that if the price closes above the level of 1.25000 on the weekly chart, one can expect higher targets, namely the level of 1.28000 .
At the moment, the price is expected to fix at current levels (scenario №1) or rise towards the level of 1.26000 (scenario №2) .
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Strifor || SILVER-25/04/2024Preferred direction: BUY
Comment: Let's refresh our previous silver trading idea. Here, as before, we expect more strengthening of the buyer, however, it must be said that the situation is quite uncertain, and it would be better to even take a closer look at the same major currency pairs, the situation there is more interesting. Scenario №1 is already in progress, and the pressure at 27.50 indicates a likely breakout upward towards the target at 28.50 . We don’t forget scenario №2 and keep it as plan B.
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Strifor || USDCHF-24/04/2024Preferred direction: SELL
Comment: The US dollar has started a long-awaited correction, but the franc and a number of other major currencies have so far kept away from growth. One such currency is the franc. Here, we continue to adhere to sell-priority. The focus is on the sport resistance level at 0.91424 to which the price is currently stuck. Main scenario №1 assumes a slight movement above this level as part of a false movement before a fall, where the target for sales is the level of 0.90108 . Scenario №2 is unlikely, but we do not exclude it since there is a number of important data coming up that could immediately increase volatility in favor of the US dollar.
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Strifor || GBPUSD-24/04/2024Preferred direction: BUY
Comment: The pound , like the euro , worked out the trading idea that we published at the beginning of the week. However, the growth most likely will not end there, and one can also wait for another jump upward towards the level of 1.25500 . If the price fixes above the level of 1.25000 on the daily chart, we can even talk about growth towards the level of 1.28000.
For a short-term trade, we are considering two scenarios, where scenario №1 is growth from current prices, and scenario №2 is growth after a slight pullback downward towards the level of 1.24000 .
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Strifor || SILVER-23/04/2024Preferred direction: BUY
Comment: Metals , on the contrary, show a negative trend at the beginning of the week, but within the framework of long-term movement, this is just a normal correction. Long trades of both gold and silver are considered. For silver , the price approached important support at the level of 26.50 , from where last time we recorded a maximum at the level of 29.78. A more likely scenario involves growth from this support with a target at the level of 28.50 ( scenario №1 ). Scenario №2 assumes growth after a small false movement towards the support area of 25.50 .
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SILVER Is Bearish! Short!
Take a look at our analysis for SILVER.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 26.827.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 24.820 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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Silver (XAGUSD): Surge Beyond $28 or Pullback?The entire precious metals sector, including Silver, is currently of great interest, not just gold. For silver, we currently assume that we are probably nearing the end of Wave (iii), which can reach a maximum of 28.51 dollars. We are currently within our target zone for the Wave 5s, so it will likely be challenging to break through and invalidate the 461.8% extension level. If that were to happen, we would need to make adjustments. Otherwise, we believe we might see another drop to between 38.2% and 61.8%, i.e., between 25.75 dollars and 24.30 dollars. We will not place a limit order just yet. We first want to see some sell-off in this market before placing a limit order, to avoid having to adjust it frequently if it gets invalidated. So, wait until we send out the limit order.
SILVER A Fall Expected! SELL!
My dear subscribers,
This is my opinion on the SILVER next move:
The instrument tests an important psychological level 28.573
Bias - Bearish
Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market.
Target - 27.228
My Stop Loss - 29.350
About Used Indicators:
On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
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WISH YOU ALL LUCK
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SILVER SENDS CLEAR BULLISH SIGNALS|LONG
Hello,Friends!
SILVER is trending up which is clear from the green colour of the previous weekly candle. However, the price has locally plunged into the oversold territory. Which can be told from its proximity to the BB lower band. Which presents a great trend following opportunity for a long trade from the support line below towards the supply level of 28.941.
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Strifor || EURAUD-18/04/2024Preferred direction: SELL
Comment: A potential medium-term sale is brewing for the EURAUD currency pair. At the moment, the key role is played by resistance at 1.66296 . The price, having already felt resistance, stopped its movement at the level of 1.66000 .
Two scenarios for selling are proposed, where the more likely scenario is a preliminary approach to the level of 1.66296 ( scenario №1 ). A fall from current prices is less likely, but can also be considered under conservative risks. The target for the fall is located at the level 1.64609 .
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Natural Gas Price Forecast | Oil, Silver, GoldTechnical analysis on Natural Gas Price Forecast | Oil, Silver, Gold
Support and resistance guide
Silver to $38The move from March 2020 to August 2020
Was a measured move that played out to the Tee.
We have a similar structure building that projects to the High 30's
Suggesting #Gold move beyond ATH's and #Silver the beta play to move faster in an attempt to catch up, and move towards it's high's again.
Silver's Seasonal Trends: A Strategic Approach for Short SetupAs Silver trades around the $27.98 mark, investors find themselves at a crossroads, grappling with the implications of evolving market dynamics and economic indicators. While speculation surrounding potential interest rate cuts by the Federal Reserve (Fed) in June exerts downward pressure on the gray metal, a closer examination of seasonal trends offers valuable insights for crafting strategic trading setups.
From a seasonal perspective, this time of year typically witnesses a drop in Silver prices. Historically, this seasonal pattern has played a significant role in shaping market sentiment and price movements. Therefore, instead of solely relying on traditional supply and demand dynamics, investors are wise to consider the influence of seasonal factors on Silver's trajectory.
Turning to recent economic news, the US Consumer Price Index (CPI) report for March revealed a turbulent path for inflation, prompting expectations that the Fed will maintain its higher-for-longer rate narrative. This narrative suggests that interest-bearing assets may become more appealing relative to Silver, potentially limiting the gray metal's upside potential. As a result, the Fed Funds Futures market has adjusted its expectations for the timing of the first rate cut, now anticipating it to occur in September rather than June, according to the CME FedWatch Tool.
In light of these developments, investors seeking to capitalize on Silver's short to long-term potential must adopt a strategic approach. A short-middle to long-term setup requires a nuanced understanding of market trends, economic indicators, and seasonal patterns.
