FX.co ★ XAG/USD, SILVER

Silver Intraday Forecast: Today we will analyze the price movements of silver. For the gold pair (XAUUSD), an uptrend is expected as the angle of the green channel of the Triple Moving Average (TMA) is widening. However, the MACD indicator is showing red below zero, and the pink line of the OsMA is below the blue line, so a trading signal is not yet confirmed. It is advisable to wait for confirmed indicator signals that are consistent with the main trend before initiating a trade. Focusing on the upper moving average, which is currently at 74.02, we need to watch whether the price will fall. An upward rebound would suggest a trend reversal and a move towards the upper Bollinger Band at 75.07, after which a downward rebound may occur. If the price falls below the upper moving average, the lower moving average and the lower Bollinger Band around 73.57/73.52 are likely to provide support, and we should carefully monitor the possibility of a breakout. The corrective decline from the 74.72 range may continue, and a false breakout may occur at 73.35, which would suggest a further rise, with the focus shifting to a breakout above 75.57.

Given the bullish trend in silver, the buying opportunity remains good. Despite a slight corrective decline during the Asian session, the rise resumed afterward. Following a false breakout at 73.35, the rise extended to the 75.62 range. The US session may see the rise continue and anticipated buying activity. There was a slight decline during the European session, but a rise was subsequently seen. However, the failure to break through the resistance level of 75.57 during European trading suggests a potential pullback. A breakout and consolidation above 75.62 would confirm the buy signal and maintain its validity. Market volatility is very high, so traders should exercise particular caution to avoid losses.