EUR/USD 1.15606
0.020%
Gold 4495.16
-0.244%
Oil 90.021
-0.509%
USD/JPY 159.377
-0.053%
GBP/USD 1.33623
-0.011%
GBP/JPY 212.969
-0.003%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japans purchases of foreign bonds in the week ending March 20 amounted to -¥635.3 billion, compared to a revised -¥986.9 billion in the previous week (originally -¥992 billion).Foreign investors net outflowed 2,509.7 billion yen from Japanese stocks in the week ending March 20, compared with a revised figure of -1,772.5 billion yen for the previous week (originally -1,772.6 billion yen).U.S. House committees will consider a comprehensive aviation security bill on Thursday.The UAE Ministry of Defense says it is responding to drone and missile attacks from Iran.1. All three major U.S. stock indexes closed higher. The Dow Jones Industrial Average rose 0.66% to 46,429.49 points, the S&P 500 rose 0.54% to 6,591.9 points, and the Nasdaq Composite rose 0.77% to 21,929.83 points. Sherwin-Williams and Merck rose more than 2%, leading the Dow Jones gains. The Wind U.S. Tech Giants Index rose 0.8%, Amazon rose more than 2%, and Nvidia rose nearly 2%. The Nasdaq China Golden Dragon Index rose 1.86%, JD.com rose more than 8%, and Canadian Solar rose nearly 8%. 2. All three major European stock indexes closed higher. The German DAX rose 1.41% to 22,957.08 points, the French CAC40 rose 1.33% to 7,846.55 points, and the UK FTSE 100 rose 1.42% to 10,106.84 points. 3. International precious metals futures generally closed higher, with COMEX gold futures rising 2.30% to $4,503.30 per ounce and COMEX silver futures rising 2.70% to $71.44 per ounce. 4. The most active US crude oil contract closed down 1.15% at $91.29 per barrel; the most active Brent crude oil contract fell 2.18% to $98.04 per barrel.

Silver Price Analysis: XAG / USD hovers around $20.00 ahead of US NFP

Alina Haynes

Mar 10, 2023 11:25

 截屏2022-06-07 下午5.18.01.png

 

Silver price continues to trade sideways on Thursday, in the absence of a catalyst, prior to the release of crucial US economic data. The Mexican Peso (MXN) is depreciating as a result of investors' risk aversion ahead of the US Nonfarm Payrolls report for February. At the time of writing, the XAG / USD exchange rate was $20.05, an increase of 0.19%.

 

XAG / USD remained steady throughout the day, unable to break above or below the $19.98-$20.28 range. However, investors should be aware that Silver fell below the 200-day Exponential Moving Average (EMA) at $21.80, indicating a downward bias for the precious metal. Notably, the 50-day EMA is approaching the 200-day EMA, and once it crosses below the latter, a death cross would exacerbate a decline toward the $18.84 daily low from November 3.

 

But first, XAG / USD must surpass the YTD low of $19.92. A breach of the latter will expose the psychological level of $19.00, followed by the daily low on November 3 at $18.84.

 

In an alternative scenario, the first level of resistance for XAG / USD would be the daily high of $20.06. Once cleared, the next resistance level would be the daily low-turned resistance from February 28 at $20.43, followed by the daily low-turned resistance from November 28 at $20.87.


Suggestion