XAG/USD: general analysis

Current trend

On Thursday, silver declined against USD, testing the support level of 15.90. The pair managed to recover to the level of 16.00 due to the release of negative data on the US employment sector: Initial Jobless Claims (June 30) exceeded the forecast and amounted to 231K ones, affecting the dollar negatively, as well as poor ADP Employment Change release.

On Friday, the investors will focus on June US employment market data and the official start of the US-China trade war.

Support and resistance

On the 4-hour chart, the instrument was corrected to the midline of Bollinger bands. MACD histogram is around the zero line, its volumes are minimal, the signal line moves horizontally.

Resistance levels: 16.00, 16.10, 16.20, 16.30, 16.45.

Support levels: 15.90, 15.75, 15.50.

Trading tips

Short positions can be opened from the level of 15.80 with the target at 15.50 and stop loss 15.95.

Long positions can be opened from the level of 16.15 with the target at 16.45 and stop loss 16.00.

Implementation period: 3–5 days.

Spot Silver

Buy Sell Spread
16.046 15.985 61


Timeframe Weekly
Recommendations SELL STOP
Entry Point 15.80
Take Profit 15.50
Stop Loss 15.95
Support levels 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.30, 16.45

Alternative scenario

Recommendations BUY STOP
Entry Point 16.15
Take Profit 16.45
Stop Loss 16.00
Support levels 15.50, 15.75, 15.90, 16.00, 16.10, 16.20, 16.30, 16.45

XAG/USD: general analysis

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