XAG/USD: review and forecast on 16.06.2015
16 June, 2015
Current trend
The pair XAG/USD remains in the descending channel since 19 May and investors can only be attracted to it in the event of market instability and the weakening of the USD. In the near future such event can perhaps be rate hike in the US, however, until then the pair is set to decline.
Today’s news is unlikely to have an impact on precious metals. However, a piece of news that can affect it is the US construction data. Markets expect the number of approved construction permits and the number of new houses to fall, which should lead to a decline in the USD and an increase in precious metals.
Support and resistance
At the moment the nearest support levels are: 15.86 and 15.60.
Resistance levels: 16.25 and 16.45. These are the most frequently recorded levels over the past three months.
Trading tips
Since the beginning of European session the pair has traded at the level of 16.00. It makes sense to open long positions above the level of 16.10 with the target of 16.45. As an alternative scenario it is possible to place pending order to sell at the level of 15.95 with the target of 15.60.
Source link
Related materials
Since December 2015 the index S&P500 has been in the downtrend. In February, the index fell to the level of 2108.0, which is almost 15%. In the past 4 sessions the index had adjusted, approaching the level of 1935.0...
On the 4-hour chart, the price is testing the level of 1210.80 (23.6% correction); the ascending 38.2% fan line is an additional resistance for the price. If this resistance area is overcome, a growth would continue to 1224.90 and 1249.25...
Yesterday, the price of silver fell to last Thursday’s opening levels, when a new local low since the end of October 2015 was reached. Prices of commodity assets are falling as risk appetite is gradually returning to the market...
Yesterday the pair showed choppy trade and closed at its opening level. The price was pressured by growth in the European stock markets and Fed Chair Janet Yellen testimony before the US Congress...
The Company ranks 23th on capitalization in the finance sector among the Issuers, trading in the American stock market. On 22 January the company reported for Q4 of the fiscal year of 2015. The company has been demonstrating negative dynamics for the last few quarters...
Since the opening of the trading day the price of crude oil Brent is declining. On the hourly chart the price has broken down the first support level of 34.35 (ÅÌÀ50), which is ÅÌÀ200 on the four-hour chart...
The price of gold has returned to the level of 1190.00 USD per troy ounce, (which is had at the beginning of November), regaining half of the losses since mid-October 2015. On the daily chart the price has broken down strong resistance levels 1129.00 (ÅÌÀ200)...
Amid sharp decline in the global stock indices since the beginning of the year European index EUROSTOXX50 has lost about 14%. During the final surge of decline from 3515.0 to 2840.0 last December, the price has managed to go above the level of 23.6% Fibonacci...
On the daily chart the price has broken down the upper line of the downward channel at the level of 35.50. Although, on the daily chart the indicators OsMA and Stochastic recommend long positions; on the four-hour chart the indicators give signals in favor of the sell positions...
Forex Currencies Forecasts
Top Brokers offering Forecasts
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | Easy Markets | 89% |
| 2 |  | FXTM | 84% |
| 3 |  | FxPro | 82% |
| 4 |  | FIBO Group | 80% |
| 5 |  | FXCM | 74% |
| 6 |  | HYCM | 72% |
| 7 |  | Fort Financial Services | 71% |
| 8 |  | HotForex | 70% |
| 9 |  | FBS | 68% |
| 10 |  | 24option | 66% |
