Current trend

Yesterday, the price of silver was growing due to a decline in the US Dollar ahead of the Fed monetary policy meeting. Today, market participants are waiting for the publications of Fed’s Interest Rate Decision and Fed's Monetary Policy Statement.

Analysts expect the Regulator will keep its monetary policy unchanged as negative situation on financial markets affects prospects of economic growth in the US. In case of no rise in interest rates and a dovish tone of Fed's Monetary Policy Statement, a fall in the US Dollar and a growth in commodity assets will follow.Current trend

Support and resistance

MACD histogram is above the zero and signal lines, its volumes are growing. The indicator is giving a buy signal. RSI is in the neutral zone.

Support levels: 14.33, 14.19, 14.00, 13.73.

Resistance levels: 14.50, 14.65, 14.82, 15.00.

Trading tips

Long positions can be opened above the level of 14.50 with targets at 14.65, 14.82 and stop-loss at 14.40.

Short positions can be opened below the level of 14.20 with targets at 14.00, 13.75 and stop-loss at 14.30.

XAG/USD: analysis and forecast

 




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