XAGUSD Attempt at Further Recovery Stays Beneath $26.00

XAGUSD Attempt at Further Recovery Stays Beneath $26.00

XAGUSD Price Analysis – August 1

Silver has made another attempt to climb higher and has recouped some of its previous losses, but the XAGUSD pair still has a long way to go before the buyers are secure. As buyers observe the gap between central banks and mixed greenback over its peers during times of heightened risk aversion, Silver stays beneath $26.00.

Key Levels
Resistance Levels: $27.50, $26.75, $26.00
Support Levels: $25.00, $24.50, $24.00
XAGUSD Long term Trend: Ranging
On the daily chart, the main resistance levels to watch are $26.00 and $26.75 levels, which have restricted its upside since early July. The recent low level around the daily ascending trendline at $24.50 should provide instant support in the case of an unforeseen downturn.

If the $26.00 and $26.75 barrier fails to hold, silver prices may be ready to move further in the medium to long term. The market action has generally been consolidating beneath the $26.00 levels during the last few days. A steady rise towards the February 1 highs could be feasible if it breaks above the $27.50 mark.
XAGUSD Short term Trend: Ranging
On the 4-hour chart, silver appears to be constrained by a big technical hurdle at $25.80. If the barrier holds, XAGUSD is anticipated to find support near the $25.30 level, slowing the bears and expanding gains against the US Dollar in the short term, thanks to the 4-hour moving average of 13.

In the meantime, bears are unlikely to win the market. The upward range between $26.00 and $26.75 might be a potential upside goal. A persistent break below, on the other hand, could signal bullish exhaustion, putting the pair at risk of breaching the major $25.00 psychological mark.

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XAGUSD Sellers Attempt To Grab Hold Around the $26.00 Region

XAGUSD Sellers Attempt To Grab Hold Around the $26.00 Region

XAGUSD Price Analysis – July 18

Silver (XAGUSD) failed to break over a stiffer barrier ahead of the $26.40 region once more. On Friday, it dipped slightly lower and may remain depressed, with sellers now attempting to grab hold around the $26.00 region. The US dollar is gaining traction as a potential challenge to XAGUSD upside bias.

Key Levels
Resistance Levels: $27.50, $$26.75, $26.00
Support Levels: $25.50, $25.00, $24.50
XAGUSD Long term Trend: Ranging
Despite a retracement, XAGUSD has retained a strong grip above the ascending trendline as prices consolidate beneath the $26.75 resistance zone. On the upside, the round figure of $27.00 is still reachable. However, only a strong close above Friday’s high of $26.45 can herald more increases.

The pair may open with a downside bias in white metal. We expect Silver to drop to the $25.50 support band at the start of the new week if it fails to reclaim the $26.00 round number. The relative strength indicator is below its mid-line 50, indicating that the price may be weakening towards the $25.00 support level.
XAGUSD Short term Trend: Bearish
Technical analysis on the lower time frame shows that XAGUSD has broken into a bearish channel and may trade between the near-term resistance level of $26.00 and the short-term low of $25.50. Any such lower breakout will keep white metal selling towards the next support level of $25.00.

Above the $25.50 level, a recovery to the $26.00 level is possible. Silver may rebound from extremes and trade back around the $27.00s, but gains compared to the recent high of $26.77 are still possible. Short bets below $25.50 are most likely, with targets at $24.50 and $23.50 in extension.

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XAGUSD: Silver Price Is Holding Up Beyond Mid $26.00 Level

XAGUSD: Silver Price Is Holding Up Beyond Mid $26.00 Level

XAGUSD Price Analysis – July 4

The Silver (XAG) sellers were unable to keep their price below the $25.00 level and began a new surge versus the US Dollar. The XAGUSD pair has moved into a positive zone after breaking through the mid $26.00 level. Silver is holding up while the dollar fell on Friday as risk appetite increased.

Key Levels
Resistance Levels: $28.00, $27.50, $27.00
Support Levels: $26.00, $25.50, $25.00
XAGUSD Long term Trend: Ranging
The moving average 5 of silver (XAGUSD), which is currently working as support at $26.00, has served as a solid basis for price activity in recent days, with the moving average 13 about crossing lower at $26.10 given credence to a change in trend.

To the upside, there is decent resistance in the $26.72 region, while to the downside, the current range’s bottom comes into play just around the $25.50 level. Currently, XAGUSD is rising, and bulls may try to push the price above $26.72.
XAGUSD Short term Trend: Ranging
Technical buying on the recovery from a short-term slump around ascending trendline support at the $25.52 level from June 29 has helped spot silver prices recapture past the $26.00 level in the short run. Silver, on the other hand, remains well within recent ranges when viewed over a medium time horizon.

This week, Silver (XAG) may attempt an upside breakout, and a break of $26.72 minor resistance might push the price to the $27.00 mark. There hasn’t been any follow-up buying yet. But, before any rise, sustained trading over the $26.00 level should confirm that a rebound from $25.52 has been completed at the $26.50 level.

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XAGUSD Positions To Deepen Slump After Breaching Key Levels

XAGUSD Positions To Deepen Slump After Breaching Key Levels

XAGUSD Price Analysis – June 20

Silver (XAGUSD) remained under moderate downward pressure after completing the previous week in the negative region. Leading to a gradual recovery in US rates, the bulls tread cautiously. Silver’s recovery progress may emerge if the US dollar’s retreat returns.

Key Levels
Resistance Levels: $28.75, $27.50, $26.72
Support Levels: $25.50, $24.50, $23.50,
XAGUSD Long term Trend: Ranging
As the price continues to attack the near-term support zone currently beneath the $26.00 level, XAGUSD sellers have regained medium-term control. The ascending trendline support, which may operate as a backstop, lies beneath the $26.00 level, making it a good base for the bears.

On growing USD strength, the white metal has fallen from the resistance of the moving average 5 and 13 hurdles, and the break below the $26.00 level will lead to a test of the horizontal support zone at the $25.00 level. The daily Relative Strength Index (RSI) is at the south, indicating that more negative correction is possible.
XAGUSD Short term Trend: Bearish
The XAGUSD was last spotted languishing at $25.78 on the lower end of its 4-hour chart. Meanwhile, technical indications on the 4-hour chart have been trending downward, indicating that further weakness is likely. However, the short-term RSI’s rebound should be viewed with caution before setting for a further decline.

A strong break below the ascending trendline at $25.73 could lead to a lower mark at $24.50. The next upside objective, on the other hand, is at the $26.72 level. Near-term important support is found at $25.50, which acts as a stopgap for an additional silver decline towards the yearly low of $24.01.

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XAGUSD Pair Buyers Look for Bullish Continuation

XAGUSD Pair Buyers Look for Bullish Continuation

XAGUSD Price Analysis – June 6

After failing to profit from the weaker DXY on Friday, the XAGUSD saw some buying near the $27.00 mark. As buyers hunt for upside continuation, the pair is correcting but could be headed for a new high. As buying interest ramped up at the $27.22 level, silver is currently pushing up against the upside limit at the $28.00 level.

Key Levels
Resistance Levels: $30.13, $28.75, $28.32
Support Levels: $27.50, $27.00, $26.72
XAGUSD Long term Trend: Ranging
As a result of the buying interest around the $27.22 level, negative momentum has strengthened significantly. If buyers can push the price above the cloud and the resistance zone that has formed between $28.00 and $28.32, the price might swiftly test the nearby high of $28.90.

On the downside, first support might come from the $27.50-$27.00 range, and a conclusive violation of this long-term support zone could send the price crashing into the $26.72 and $26.00 lows, respectively. If the price follows the pattern, the metal’s bullish bias may be weakened, and bears may reclaim the lead.
XAGUSD Short term Trend: Ranging
Silver appears to be heading at a technical hurdle at the $28.00 level, as seen on the 4-hour chart. If the barrier holds, XAGUSD is anticipated to find support near the $27.50 level, thanks to a 4-hour moving average of 5, and return to extend gains against the US Dollar in the short term.

The upside range between $28.00 and $28.90 might be a viable upside target; in the meantime, bears are unlikely to win the market. A persistent break below, on the other hand, will be considered as the first symptoms of bullish tiredness, putting the pair at risk of testing the important $26.72 level.

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XAGUSD Price Set To Soar Higher Into the $28.00 Level

XAGUSD Price Set To Soar Higher Into the $28.00 Level

XAGUSD Price Analysis – May 30

Silver (XAGUSD) is in an uptrend, with buyers controlling any dips and setting for a move higher to the $28.00 region. The price of silver is currently $27.93 per ounce, up 0.32 percent. The price of silver is being pulled downwards as the US dollar and Treasury yields strengthen.

Key Levels
Resistance Levels: $29.50, $28.90, $28.32
Support Levels: $27.50, $27.00, $26.72
XAGUSD Long term Trend: Ranging
Silver (XAGUSD) prices are stabilizing beneath $28.00 and have maintained a generally bullish bias despite the resurgent strength of the US dollar. The XAGUSD currency pair finished Friday’s foreign exchange trade up 0.32 percent, implying a positive move from previous levels.

Only a move below $27.50 and the MA 13 might reverse the trend. At this time, buying the dips is the best strategy, and Silver is primed to rise. Meanwhile, if the stated support level holds, XAG could trade sideways against the US dollar in the next trading session. Any more weakness, however, must break through the weekly low of $27.40 to render the XAGUSD bullish run meaningless.
XAGUSD Short term Trend: Ranging
After approaching resistance at the key $28.00 level, silver’s price has performed a mild technical pullback. On the one hand, the 4-hour MA 5 crossing the MA 13 higher in the $27.70 level towards the $28.00 range might likely push the price of XAGUSD higher.

Meanwhile, the rate may maintain support at the horizontal level of $27.50. On the other hand, in the event of a surge, the white metal might find resistance at the next horizontal line of $28.32. As a result, the market may have some upward potential in the coming sessions.

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Silver Retreat Is Over!

Silver Retreat Is Over!

Silver dropped in the short term, but the bias remains bullish. The price has found strong support, so it could start increasing again. A temporary drop was expected after reaching a strong resistance level.

It’s trading in the green at 27.777 level at the moment of writing trying to approach the 28.000 psychological level. USD’s depreciation helps the price of silver to increase and erase its losses. Technically, the bias is bullish as the price has invalidated a further decline.

Silver (XAGUSD) H4 Analysis!

Silver dropped after registering only a false breakout above the warning line (WL1). Now it has found support on the descending pitchfork’s median line (ml). Its failure to reach and retest the weekly pivot point (27.345) signaled that XAG/USD may start growing again.

The outlook is bullish as long as it stays within the up channel’s body. Coming back above the R1 (27.963) may indicate a further growth towards the upper median line (uml). A new higher high, closing above 28.003 may bring an upside breakout above WL1 as well.

Conclusion!

The false breakdowns with great separation below the median line (ml) of the descending pitchfork signaled a new upside momentum. A valid breakout above 28.000 validates a strong growth.

 

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XAGUSD Boosts Gains From Weekly Lows, Further Advances Likely

XAGUSD Boosts Gains From Weekly Lows, Further Advances Likely

XAGUSD Price Analysis – May 16

At the end of the prior session, the white metal turned positive away from weekly lows of $26.72 and shot to two-day highs, around $27.48 level. XAGUSD trend appears to be stacked in favor of buyers, implying that further advances are likely. Following worse-than-expected US results, the dollar fell on Friday.

Key Levels
Resistance Levels: $30.13, $28.90, $27.92
Support Levels: $26.72, $25.50, $24.50
XAGUSD Long term Trend: Ranging
In terms of the technical context, the XAGUSD has been trending higher along an upward sloping moving average (MA 13) extending from Apr.13 lows around the $25.00 level. The recent pullback from the $30.13 yearly high stalled near the ascending trendline. The low around the daily ascending trendline at $23.78 could provide immediate support in the event of an unexpected decline.

Any further upward movement from current levels may face fierce opposition near the immediate horizontal level at $27.50. A valid breach beyond the $28.00 mark will drive the XAGUSD past the upside channel hurdle near the $28.32 supply zone, pressuring the prior tops. A steady step towards the February 1 highs may be possible if it breaks above the $27.50 mark.
XAGUSD Short term Trend: Ranging
Silver appears to be launching toward a significant technical barrier at the $27.50 mark, as seen on the 4-hour chart. If the barrier holds, XAGUSD is likely to find support near the $26.72 level thanks to a 4 hour moving average of 13 which seems to be a return to expand gains against the US Dollar in the short term.

The upside range between $28.00 and $30.00 may be a potential upside target; in the meantime, bears are unlikely to win the market. A sustained break below, on the other hand, can be seen as the first signs of bullish fatigue, putting the pair at risk of testing the $25.00 region.

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Silver Price: XAGUSD Bulls Have Eyes Toward Mid $28.00 Region on Softer US Dollar

Silver Price: XAGUSD Bulls Have Eyes Toward Mid $28.00 Region on Softer US Dollar

XAGUSD Price Analysis – May 9

Silver (XAG) surged to two-month highs of $27.67 to close at $27.45 on Friday, gaining nearly 20 percent for the week. As XAGUSD surges higher, buyers have eyes toward the mid $28 region. A major disappointment on the headline NFP number could explain Silver’s towards the end of the prior week on a softer dollar.

Key Levels
Resistance Levels: $30.13, $28.90, $27.92
Support Levels: $27.00, $26.00, $25.00
XAGUSD Long term Trend: Ranging
The white metals moving averages 5 and 13 have almost a bullish pattern, but the trend does not necessarily mean a price spike. Silver is currently opening from 0.53 percent higher on the day at $27.45, and the white metals relative strength index (RSI) almost reached the 70 bullish lines, but the 70 lines do not necessarily imply an overbought region but the beginning.

To validate a bullish turnaround, XAGUSD must fall below the recent high of $27.67. For the bears, the $26.65 level is the one to beat. Since the beginning of April, that level has acted as a solid ceiling for the buyers on some occasions. As long as prices remain within the prior week’s higher trading range of $26.65 to $27.67, the initial bias may remain neutral.
XAGUSD Short term Trend: Bullish
On the 4-hour chart, spot silver is gaining further upside momentum from a technical standpoint. After breaking above the $27.00 mark and overall above the short-term MA 5 support, XAGUSD is holding up well. The 13 moving average is skewed upward.

The nearest support level is $27.00, while the first and second resistance levels have been pushed up to $27.92 and $28.90, respectively. On the one hand, some upside capacity in the market is likely to persist throughout the subsequent trading session.

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Silver Price: XAG/USD Upside Run Limited Within the Mid $25-Mid $26 Range As Upbeat US Data Supports USD

Silver Price: XAG/USD Upside Run Limited Within the Mid $25-Mid $26 Range As Upbeat US Data Supports USD

XAGUSD Price Analysis – May 1

The XAGUSD pair attempted to break through the mid $26 in the prior week, as the price tanked cautiously while investors remained cautious and aware of the upbeat data that supported the USD. Durable Goods Orders increased by 0.5% in Mar., following a 0.9% decline in Feb, as per the US Census Bureau.

Key Levels
Resistance Levels: $27.50, $26.65, $26.00
Support Levels: $25.50, $25.00, $24.50
XAGUSD Long term Trend: Ranging
XAGUSD risks are also weighted to the upside, as the price has broken through the psychological range level of $26.00. The $26.65 resistance level is the next appropriate upside point. For the bears, the $25.00 support level would be the one to beat. The floating RSI conditions above midlines are likely to test the silver bears in the subsequent sessions.

Although attempting to rebound, the white metal is currently trading with moderate weakness about the $25.92 mark. If Silver price trades above the $26.00 level confluence zone, on the other hand, the upside momentum can gain traction and cause buy orders, apparently triggering an abrupt upside move in silver towards the $26.65 and $27.50 high level.
XAGUSD Short term Trend: Ranging
Technical analysis on the lower time frame shows that XAGUSD has broken into a downward channel and can trade between the near-term resistance level of $26.00 and the short-term low of $25.50. Any such lower breakout will keep white metal selling towards the next support level of $25.00.

Above the $25.50 mark, a recovery past the $26.00 level is possible. Silver may have recovered from its extremes and is now trading above the mid $25.00s, but it is still down more than 0.5% from the last session high. Short positions below $26.00 are most probable, with expectations at $25.50 and $25.00 in extension.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.