not only a major round figure, but it is also the scene of major resistance from. Add to that mix the fact that the candlestick you are breaking the bottom of it is a hammer, and then you have a bit of a perfect storm for a bearish move down towards the 14 handle underneath. Our Forex articles base will provide the explanations you need to succeed. Silver markets spent the early part of the week breaking down, just as other precious metals markets did, but silver found plenty of support at the 15 level. Finding a Forex broker has never been so easy! Editor's Choice, browse by Currency Pair, broker Promotions. Silver markets fell voor 50 euro bitcoin initially during the week but found enough support at the major round figure to turn around and show signs of life by forming a hammer. Technical analysis shouldnt be overwhelming, and our Forex technical analysis is designed for traders at all levels.
Now that it looks like the Federal Reserve are going to be raising rates anytime soon, that should keep currency relatively cheap, meaning that Silver should have the ability to climb. If thats the case, the precious metals sector should do fairly well, with gold rallying in and of course bringing silver right along with. The obvious target to the upside is the.00 level, an area that I think is going to be difficult to crack. In fact, we have turned around of form a very bullish looking hammer stick, especially considering that the jobs number look very soft as well, giving the US dollar some weakness.
Need help understanding more complex concepts? Please let us know what you think in the comments below. We will handle your request as soon as possible. There have been some speculators out there suggesting that perhaps the Federal Reserves next move is going to be to cut rates, not increase them. Technical Analysis, written by experienced traders and professional market analysts, our Forex technical analysis is just what you need to get an edge in your Forex trading.
USD Dollar, EUR Euro, JPY Yen, GBP Pound.
Silver (XAG) is a precious metal used in jewelry, silverware and electronics.
Investors can buy silver in bars, coins and bullion, or speculate on the spot price of silver.
Should I invest in GBP to USD Currency Pair?
Should I trade GBP/USD pair today?
Elliott wave forex forecast, Reliable forex brokers in canada, Daily forex, Rsi trading forex factory,