Silver (XAG/USD) price fell near $30.90 during the early European trading hours on Monday (03/1). Growing fears of a global trade war following US President Donald Trump's massive tariff measures boosted the US Dollar (USD) across the board and exerted selling pressure on the white metal.
According to the 4-hour chart, the bullish outlook for the white metal remains intact, with the price holding above the key 100-period Exponential Moving Average (EMA). However, the Relative Strength Index (RSI) is hovering around the midline, suggesting that further consolidation cannot be ruled out.
The first downside target is located at $30.60, the 100-period EMA. Further down, the next level of contention to watch is $30.40, the lower boundary of the Bollinger Band. Continued losses would open the way to the psychological level of $30.00, en route to $29.50, the low of January 13.
In the bullish case, the immediate resistance level appears at $31.72, the high of January 31. The next hurdle is seen in the region of $31.90-$32.00, which represents the upper limit of the Bollinger Band and the round mark.
Source: FXstreet
Silver prices (XAG/USD) traded slightly after rising in the previous two sessions, trading around $37.50 per troy ounce during the Asian session on Tuesday (August 5). This non-yielding silver could a...
Silver held around $37 per ounce on Monday after gaining nearly 1% in the previous session, supported by rising expectations for a Fed rate cut following a weak US employment report for July. Data re...
Silver (XAG/USD) reverses early losses on Friday and climbs back above the $36.50 mark, buoyed by a broad-based sell-off in the US Dollar (USD) after the latest Nonfarm Payrolls (NFP) report surprised...
Silver prices fell 0.5% to near $36.50 during the European trading session on Friday (August 1). The precious metal faced selling pressure as the confirmation of tariff agreements by the United States...
Silver prices hovered around $36.60 per ounce on Friday and were on track for a weekly loss of about 4%, pressured by a stronger US dollar. The dollar's strength was underpinned by renewed trade tensi...
Oil prices weakened on Tuesday (August 5th) on concerns about oversupply as OPEC+ continued significant production increases despite a weak demand outlook. This increase was more than enough to offset potential tightening of the Russian oil trade...
Gold prices held steady on Tuesday (August 5), near a more than one-week high reached in the last session, as weaker US employment data reinforced expectations of a Federal Reserve interest rate cut in September, weighing on the dollar and...
Silver prices stabilized during the Asian session on Tuesday (August 5th), after rising in the previous two sessions, amid growing expectations of an interest rate cut by the Federal Reserve (Fed) in September. This non-interest-bearing precious...
European stock markets opened positively this week, with the Euro Stoxx 50 up 0.6% and the broader Stoxx 600 up 0.2%. This rebound follows a sharp...
White House economic advisers on Sunday defended President Donald Trump's firing of the head of the Bureau of Labor Statistics, dismissing criticism...
The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald...
Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms just days away.
Without a deal,...