SILVER: pressure may have data from the US

By | June 24, 2015

Silver is nominated in dollars. Therefore, any reasons for the growth of the US currency precious metal takes quite painful. In addition, at this stage, white metal responds to the expectations of the US Federal Reserve monetary policy. If released today data on the rate of growth of the US economy in the 1st quarter will be revised at least slightly upward (recall that there was a decline of 0.7% in the quarterly ratio), it will only strengthen expectations that the Fed may be willing to raise rates at the end of the third quarter of 2015. All the more so among the regulator there are clear supporters of such a step. Yesterday, Powell said that the conditions for the start of rate increases are likely to be reached in September, and he expects further increase in interest rates in December.

In the area of 15.720 level marked sufficiently strong support that with the April 2015 inhibits the fall. When approaching this barrier traders show caution because no additional catalyst is not easy to pass it. But as soon as he is overcome, activated the “bears” and the price moves towards the lows marked in March of this year.

silver chart
Silver chart
 Trading analytics
Silver (XAG/USD)   –   sell silver   –   Entry price: 15,700. Purpose: 15,370. Stop loss: 16,040.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee the results obtained.
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