SILVER: Fed rate expectations do not allow metal to grow

By | October 2, 2015

Silver remained under pressure against the background of the general sentiment in relation to monetary policy the US Federal Reserve. This week, and officials of the Federal Reserve, and macroeconomic reports (in particular, data on US consumer confidence from the Conference Board and the report on private sector employment from ADP) reinforced expectations of another rate hike this year. Today will be published later than data on non-farm payrolls United States. The market will follow and for the number of new jobs, and unemployment, and for data on the average hourly wage. Strong numbers could be further evidence that the US regulator may increase the rate already at the meeting in October. Against this backdrop, the dollar will be supported, which would put pressure on assets denominated in it.

In the area of 14.408 price level formed a support. With the passage of this level can increase the activity of vendors that will provoke further drop in prices in the area of the August low. Moreover, the quotes on the intraday charts are kept below the 50-interval moving average.

silver charts
Silver chart
Trading analytics
SILVER (XAG/USD)    –   sell silver   –   Entry price: 14,408. Goal: 14,136. Stop loss: 14,601.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
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