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FxWirePro: Silver falls in European hours, various U.S. economic data in focus

  • XAG/USD is currently trading around $15.89 marks.
     
  • It made intraday high at $16.08 and low at $15.88 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at $16.03 mark.
     
  • A daily close above $16.03 will test key resistances at $16.08, $16.15, $16.40 and $16.62 marks respectively.
     
  • On the other side, a daily close below $16.03 will take the parity down towards key supports at $15.80, $15.62, $15.47,  $15.40, $15.32 and $15.22 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position on XAG/USD around $15.92, stop loss $16.02 and target of $15.76/$15.62.

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May 24 05:00 UTC Released

SGManufacturing Output YY

Actual

0.1 5.3

Forecast

-3.5 5.3

Previous

-4.8 5.3

May 24 05:00 UTC Released

SGManufacturing Output MM

Actual

2.4 -2.3

Forecast

-1.3 -2.3

Previous

-2.6 -2.3

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 700477700477m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 700477700477m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 688657688657m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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