Current trend

Yesterday, the pair moved sideways. The US-China trade war is still the focus of investors' attention. On Tuesday, it became known that next week China intends to ask the WTO for permission to impose economic sanctions against the US in the framework of the 2013 dispute. Then, Washington introduced anti-dumping duties against a number of Chinese goods, which WTO recognized as illegal, but the organization's decisions are not being implemented in the US, which forces the PRC to take retaliatory measures.

The dollar remains strong in anticipation of an increase in Fed rates this month, as well as a rise in the yield of 10-year government bonds.

Today, traders should pay attention to the publication of the US CPI ex Food & Energy (14:30 GMT+2) and FOMC Member Brainard Speech (18:45 GMT+2). The market predicts moderate volatility.

Support and resistance

On the daily chart, the pair moves sideways around the lower border of Bollinger bands, the downtrend is still relevant. MACD histogram is in the negative area, keeping a strong signal for the opening of short positions.

Resistance levels: 14.21, 14.29, 14.37, 14.48, 14.65, 14.82, 14.98.

Support levels: 14.05, 13.98, 13.90, 13.68.

Trading tips

Short positions can be opened from the level of 14.05 with the targets at 13.90, 13.68 and stop loss 14.15.

Long positions can be opened from the level of 14.30 with the target at 14.50 and stop loss 14.15.

Spot Silver

BuySellSpread
14.52914.47455

Scenario

TimeframeDay's Range
RecommendationsSELL STOP
Entry Point14.05
Take Profit13.90, 13.68
Stop Loss14.15
Support levels13.68, 13.90, 13.98, 14.05, 14.21, 14.29, 14.37, 14.48, 14.65, 14.82, 14.98

Alternative scenario

RecommendationsBUY STOP
Entry Point14.30
Take Profit14.50
Stop Loss14.15
Support levels13.68, 13.90, 13.98, 14.05, 14.21, 14.29, 14.37, 14.48, 14.65, 14.82, 14.98
XAG/USD: general analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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