SILVER Might Gain Bids Moving Ahead

SILVER Might Gain Bids Moving Ahead

By: Ben Myers | Where To Trade | On:02-04-2015 15:32
Back

Key Highlights

  • SILVER after testing the $17.40 level moved lower, but it looks like it managed to gain buyers around an important support area and might continue to move higher in the near term.

  • Australian TD Securities Inflation estimating inflation in the Australian economy released by The University of Melbourne - Faculty of Economics and Commerce registered a reading of 1.5% in March 2015, compared to same month a year ago and the last reading was of 1.3%.

  • In terms of the monthly change, the Australian TD Securities Inflation came in at 0.4% in March 2015.

  • Japanese Securities investment, released by Ministry of Finance representing bonds issued in a domestic market by a foreign entity in the domestic market’s currency and detailing the flows from the public sector excluding Bank of Japan registered a reading of ¥1,017.2B whereas the last one was ¥765.5B.

  • Japanese Foreign investment in Japan stocks i.e. the net data shows the difference of capital inflow and outflow was also released, which posted a reading of ¥-35.1B, compared to the last reading of ¥-352.8B.

  • Australian trade balance i.e. the difference between the value of country's exports and imports released by the Australian Bureau of Statistics posted a trade deficit of -1,256M in February 2015, compared to the preceding month and the market was expecting it post a deficit of -1,300M.

  • Australian exports and imports came in at 1% and 2% respectively in February 2015.

AUDUSD

The Aussie dollar was hammered this week against the US dollar, as it broke an important support trend line on the 4-hour chart. The AUDUSD pair is now trading below the 100 and 200 simple moving averages (4H), which is a bearish sign in the short term. The pair already made an attempt to correct higher, but failed around the broken trend line. It might make one more attempt, but could fail around the 0.7670-80 levels.

Intraday Support Level – 0.7580

Intraday Resistance Level – 0.7670

  • Overall, as long as the pair is below the broken trend line it might continue trading lower.

  • A break above the same could ignite more gains moving ahead.

If the AUDUSD pair continues to move lower from here, then the last low of 0.7580 might come into action again moving ahead.

SILVER

SILVER managed to gain bids recently after the recent poor economic data. Earlier, it moved lower to test the 50% fib retracement level of the last leg from the $15.40 low to $17.36 high. It found buyers around the mentioned fib level and surged higher. There was a bearish trend line on the 4-hour chart of SILVER, which was breached and paved the way for more gains in the near term.

Intraday Support Level – $16.40

Intraday Resistance Level – $17.00

  • Buying dips around the $16.40 level look like a good option.

  • A break below the same might call for more losses moving ahead.

If the SILVER continues to move higher, then the next level of interest can be around $17 where sellers might appear.

Ben Myers

Ben Myers

Success = few pips, thousand times

Ben Myers is one of the most respected and trusted names in the financial trading industry. Following a long and successful career with HSBC, Bank of Ireland and running his own investment firm

Yen Looks Set For More Losses

Yen Looks Set For More Losses

By: Simon Furman | Where To Trade | On:01-05-2015 11:16

Japanese yen tumbled against most currencies including the Euro and the US dollar, and it looks like it might continue to head lower in the near term.

AUDUSD Remains Buy On Dips

AUDUSD Remains Buy On Dips

By: Ben Myers | Where To Trade | On:30-04-2015 11:13

Aussie dollar was one of the best performing currencies as it traded higher against most major currencies, and looks set for more gains in the short term.

USDCHF At Risk Of A Major Break

USDCHF At Risk Of A Major Break

By: Darryl Frankfort | Where To Trade | On:29-04-2015 11:09

US dollar dived sharply against the Swiss franc and other major currencies, as sellers managed to gain strength exposing a major break in the USDCHF pair in the near term.

US Dollar Poised For Further Rise Versus Yen

US Dollar Poised For Further Rise Versus Yen

By: James Ansher | Where To Trade | On:28-04-2015 10:58

Japanese yen once again failed to hold the ground and lost all the gains against currencies like the US Dollar and the Euro, which exposes it for more declines in the near future.

NZDUSD Gains Favored As It Holds Key Lows

NZDUSD Gains Favored As It Holds Key Lows

By: Oliver Miller | Where To Trade | On:27-04-2015 10:50

New Zealand dollar traded lower this past week after solid gains against the US dollar, but found support around and important area which means there is a chance of recovery in the near term.

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings