empty
 
 
it
Supporto
Apertura rapida di un conto
Piattaforma di trading
Ricaricare / Prelevare

04.10.202415:02 Forex Analysis & Reviews: XAG/USD. Analysis and Forecast

Exchange Rates 04.10.2024 analysis

Silver has risen for the fourth consecutive day, trading near the upper boundary of its weekly range, above the $32.00 level.

For the fourth day in a row, silver has been rising, trading close to the upper boundary of its weekly range, above the $32.00 level. However, the white metal remains near the multi-year high reached last week and seems ready to extend its upward trend that began from the August low.

This week's rebound from levels below $31.00, followed by upward movement, confirms the positive outlook. Additionally, the oscillators on the daily chart are in positive territory and far from the overbought zone, indicating that the XAG/USD pair's path of least resistance is upward.

Thus, a move back toward the multi-year high around $32.70, with a potential rise to $33.00, appears likely.

On the other hand, any weakness below the $32.00 level now seems to find some support around $31.75. However, a decisive break below this level would trigger technical selling, pushing the XAG/USD pair toward support at $31.45, followed by the round level of $31.00 and the weekly low near $30.85, which would act as a key pivot point. A firm break below this level would nullify the bullish outlook and shift the short-term bias in favor of the bears.

The white metal could then accelerate its decline toward the $30.25 level, before continuing its fall to the psychological level of $30.00 and the support at the 100-day simple moving average.

Exchange Rates 04.10.2024 analysis

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Irina Yanina,
Analytical expert of InstaSpot
© 2007-2024
Approfittati subito dei consigli degli analisti
Deposita i fondi sul conto di trading
Apri un conto di trading

Le recensioni analitiche di InstaSpot ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaSpot, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.

In questo momento non potete parlare al telefono?
Ponete la vostra domanda nella chat.