SILVER TRADING: the rising dollar is putting pressure on the metal

By | November 10, 2015

Silver remains under pressure. At this stage, one of the key points which puts pressure on the precious metals are waiting to tighten monetary policy the US Federal Reserve. Such assumptions are only intensified after data on US labor market proved to be significantly more than expected. Moreover, the average hourly wage increased by 0.4%, which provokes the strengthening of expectations of price pressure. All of this means that the Fed has no reason to postpone a large number of the rate increase. All this provokes the strengthening of the US dollar, which makes assets denominated in it less.

In the area of 14.142 price level formed a strong enough support. Provided that the level is overcome, could increase sales that trigger the acceleration of the fall. On the intraday charts quotes were fixed below the 50-interval moving average, which also allows you to wait for the fall in the short term.

silver trading chart
Silver chart
Trading analytics
SILVER (XAG/USD) – sell silver – Entry price: 14,142. Goal: 13,635. Stop loss: 14,540.
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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