XAG/USD: silver resumed growth

September 25, 2015

Current trend

On Thursday, the price of silver significantly grew and returned to the opening levels of the week. A restored demand for commodities was stimulated by poor data from the US that increased anxiety on the market regarding the prospects of the interest rates hike this year.

Durable Goods Orders excluding Transportation for August did not change comparing to the previous month, while experts were predicting a 0.1% growth. At the same time, Durable Goods Orders fell by 2%, against a 2% growth in July.

Support and resistance

Bollinger Bands on the daily chart is moving upward, while the price range is widening from the top. MACD is growing and giving a confident buy signal. Stochastic failed to reach the oversold zone and turned upward.

The indicators recommend long positions.

Support levels: 15.00, 14.77 (23 September lows), 14.63, 14.49, 14.37, 14.20, 14.00 (26 August low), 13.80, 13.50.

Resistance levels: 15.15 (local high), 15.25, 15.41 (18 September high), 15.64 (21 August high), 15.84, 16.00.

Trading tips

Long positions can be opened from the current price with the target at 15.30 and stop-loss at 14.98. Validity – 1-2 days.

Pending sell orders can be placed from the level of 14.75 with the target at 14.63 and stop-loss at 14.90. Validity – 2-3 days.

Publication source
LiteForex information  LiteForex reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

FX Giants Rating
Tickmill Rating
NPBFX Rating
Cms Trader Rating
OANDA Rating
Vantage FX Rating

UKoptions Rating
OptionBit Rating
Binary Brokerz Rating
Dragon Options Rating
Migesco Rating
Anyoption Rating