empty
25.06.2024 12:07 PM
XAG/USD. Review and analysis

This image is no longer relevant

Silver finds some support at the 50-day Simple Moving Average (SMA), making a modest rebound for the second day. It seems that the white metal has halted its pullback and is attempting to attract some significant buyers.

From a technical perspective, the XAG/USD pair is holding above the 50-day, 100-day, and 200-day SMAs, which favors the bulls. However, oscillators on the daily chart are attempting to move into negative territory, which calls for some caution before positioning for further growth. The 50-day SMA is likely to protect against an immediate decline ahead of the round level of $29.00.

A convincing breakthrough below it will shift the short-term bias in favor of bears and set the stage for a significant decline. Then, the XAG/USD pair will accelerate its drop towards the next corresponding support, around $28.35, before potentially settling at the $28.00 level. The downward trajectory could continue towards support at $27.55 on the way to the round level of $27.00 and the 100-day SMA.

On the other hand, the psychological level of $30.00 could serve as an immediate strong barrier before the region around $30.50. This would be followed by a resistance zone near $30.80, above which the XAG/USD pair could attempt to surpass the round level of $31.00 and test the next obstacle around $31.35. Further upward movement would enable bulls to reclaim the round level of $32.00 and retest the $32.50 resistance zone - the year's high.

Irina Yanina,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis and Forecast

Gold continues to show a positive tone today, but conviction behind the upward movement remains weak. Market uncertainty, driven by the tariffs announced by Donald Trump—set to take effect

Irina Yanina 10:54 2025-03-26 UTC+2

USD/JPY. Analysis and Forecast

The Japanese yen remains under pressure today due to weak domestic economic data. In February, Japan's leading inflation indicator in the services sector rose by 3.0% year-over-year, slightly below

Irina Yanina 10:42 2025-03-26 UTC+2

Looks Like It's Time to Focus on the Euro and Yen (EUR/USD May Fall, USD/JPY May Rise)

Since mid-month, financial markets have been trying to recover while frantically analyzing all possible developments surrounding the trade war the U.S. launched against its largest trading partners. Investor sentiment continues

Pati Gani 08:52 2025-03-26 UTC+2

Markets Won't Rush Headfirst into the Fire

Donald Trump has dealt such a heavy blow to globalization that conditions and outlooks for the future have changed—now divided along territorial lines. While European banks believe the S&P 500's

Marek Petkovich 07:00 2025-03-26 UTC+2

What to Pay Attention to on March 26? A Breakdown of Fundamental Events for Beginners

Very few macroeconomic events are scheduled for Wednesday, and only one important report is expected. The UK will release what may seem like a significant inflation report. Inflation remains

Paolo Greco 06:03 2025-03-26 UTC+2

GBP/USD Pair Overview – March 26: The Pound Isn't Even Trying. Inertial Growth Continues

The GBP/USD currency pair resumed its upward movement on Tuesday. It did so on a day when there were no significant events in the UK, and the only noteworthy report

Paolo Greco 02:40 2025-03-26 UTC+2

EUR/USD Pair Overview – March 26: No News, No Movement

The EUR/USD currency pair traded with low volatility on Tuesday. There have been times when the euro would crawl just 40 pips a day, and while current volatility isn't extremely

Paolo Greco 02:40 2025-03-26 UTC+2

EUR/USD: The Southward Trend Stalls, but Long Positions Remain Risky

A mixed situation has developed around the EUR/USD pair. On the one hand, the bearish sentiment prevails: last week, the price reached a 5-month high at 1.0955, while on Tuesday

Irina Manzenko 23:59 2025-03-25 UTC+2

USD/JPY. Analysis and Forecast

The USD/JPY pair is retreating from the psychological level of 151.00, reached earlier on Tuesday, though this pullback is not accompanied by significant selling pressure. The Japanese yen is attracting

Irina Yanina 18:09 2025-03-25 UTC+2

The Market Has Turned Everything Upside Down

Is the worst behind us? As the S&P 500 surged to a three-week high amid easing tariff threats from Donald Trump, banks and investment firms rushed to the bulls' side

Marek Petkovich 08:18 2025-03-25 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.