Silver Price Analysis: XAG/USD falls but is subdued around $19.10, ahead of FOMC’s decision – by christianborjon Silver XAGUSD Metals Commodities
cerbated by US Treasury yields rising on an almost certain 75 bps Federal Reserve hike at November’s meeting. At the time of writing, XAG/USD is trading at $19.13, below its opening price by 0.40%.From a daily chart perspective, XAG/USD remains neutral-to-downward biased, though it was neutral when the white metal reached a monthly high at $21.23. However, erased its gains, and at the time of typing, it meanders around $19.10s.
The Relative Strength Index crossed below the 50-midline, meaning sellers are gathering momentum. Nevertheless, XAG/USD needs to achieve a daily close below $19.00, to open the door for further losses. Short term, the XAG/USD is range-bound. However, traders should be aware that the Exponential Moving Averages remain below the spot price except for the 50 and 100-EMA, hovering around the daily pivot point at $19.25 and $19.37, respectively. Also, the Relative Strength Index below the 50-midline is trendless, meaning that silver is consolidated.
Key resistance levels lie at the 50-EMA at $19.25, followed by the daily pivot level at $19.28, ahead of the 100-EMA at $19.37. On the flip side, the XAG/USD first support would be the confluence of the 20 and 200-EMA at $19.12, followed by the S1 daily pivot at $18.93, followed by the S2 pivot level at $18.65.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Price Analysis: Cable finds support at 20-EMA around 1.1600GBP/USD Price Analysis: Cable finds support at 20-EMA around 1.1600 – by Sagar_Dua24 GBPUSD SupportResistance ChartPatterns Momentum DollarIndex
Read more »
EUR/USD Price Analysis: Struggles around the 20-EMA band, parity remains a key hurdleEUR/USD Price Analysis: Struggles around the 20-EMA band, parity remains a key hurdle – by Sagar_Dua24 EURUSD SupportResistance ChartPatterns DollarIndex Fed
Read more »
EUR/USD Forex Signal: Rebound Likely Ahead of the Fed DecisiThe EUR/USD price pulled back slightly after the latest interest rate decision by the ECB and the strong American PCE data.
Read more »
AUD/USD Forex Signal: Aussie Outlook Ahead of RBA DecisionThe $AUDUSD price pulled back slightly as traders focused on the upcoming interest rate decision by the Reserve Bank of Australia (RBA) and the Fed.
Read more »
GBP/USD Forex Signal: Sterling Continues to Grind AheadThe GBP/USD price continued rising as sentiment over Rishi Sunak\u2019s government.
Read more »