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XAG/EUR Technical Analysis - XAG/EUR Trading: 2023-03-20
Silver Euro Technical Analysis Summary
Above 21,2
Buy Stop
Below 18,7
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Buy |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Silver Euro Chart Analysis
Silver Euro Technical Analysis
On the daily time frame, XAGEUR: D1 exceeded the 200-day moving average and approached the downtrend resistance line. It must be broken up before opening a position. 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 latest up fractal and the upper Bollinger band: 21.2. This level can be used as an entry point. Initial risk cap possible below Parabolic signal, latest down fractal, lower Bollinger band and 200-day moving average line: 18.7. 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 (18.7) without activating the order (21.2), 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
The slowdown in the tightening of the Fed's monetary policy increased the demand for precious metals. Will the increase in XAGEUR quotes continue?
After the emergence of difficulties in the US banking system due to the possible bankruptcy of Silicon Valley Bank and Signature Bank, investors do not rule out a slowdown in the Fed rate growth. According to CME FedWatch, the probability of its increase by 0.25% is approximately 75% at the next Fed meeting on March 22. Previously, an increase of 0.5% was expected at once, but now this option is not even considered by participants in the forex market. The probability of keeping the Fed rate at the current level of 4.75% is estimated at 25%. This increased investor interest in precious metals. Increased political risks in Eastern Europe may become an additional factor in demand growth.
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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
