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Silver Euro Technical Analysis - Silver Euro Trading: 2022-01-19

Silver Euro Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 20,82

Buy Stop

Below 19,32

Stop Loss

Dmitry Lukashev
Senior Analytical Expert
Articles 1888
RSI Neutral
MA(200) Neutral
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Neutral

Silver Euro Chart Analysis

Silver Euro Chart Analysis

Silver Euro Technical Analysis

On the daily timeframe, XAGEUR: D1 is in a triangle. Price is trying to break the 200-day moving average. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if XAGEUR: D1 rises above the 200-day moving average and upper Bollinger band: 20.82. This level can be used as an entry point. Initial risk cap is possible below the last down fractal, Parabolic signal and lower Bollinger band: 19.32. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (19.32) without activating the order (20.82), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Precious Metals - Silver Euro

Global demand for silver outstrips global supply. Will the XAGEUR quotes rise?

According to preliminary estimates by The Silver Institute, global silver supply in 2021 will increase compared to 2020 by 8% to 1,056.3 million ounces, and global demand by 15% to 1,033 million ounces. This will see the global silver surplus shrink to 23.3 million ounces from 80.1 million ounces in 2020. It should be emphasized that, excluding ETP (Exchange Traded Product) funds, there will be a silver deficit of 126.7 million ounces in the world in 2021. At the same time, industrial demand for silver will reach a record level of 524 million ounces. Of these, photovoltaic demand will be 105 million ounces in 2021. Note that silver, in addition, is actively used in 5G communication equipment.

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