The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.
We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.
Expected trading range for today: between $5.1000 and $6.4200
Today’s forecast: Bearish, as long as the resistance holds
The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.
We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.
Expected trading range for today: between $5.1000 and $6.4200
Today’s forecast: Bearish, as long as the resistance holds
EUR/USD is losing ground as traders react to the ECB Interest Rate Decision. The European Central Bank raised the interest rate from 2.15% to 2.4%, in line with analyst consensus.
ECB noted that the war in the Middle East generated inflation pressures. According to ECB, headline inflation is expected to average 3.0% in 2026, 2.3% in 2027, and 2.0% in 2028.
Currently, EUR/USD is trying to settle below the support level at 1.1500 – 1.1515. In case this attempt is successful, EUR/USD will move towards the next support, which is located in the 1.1415 – 1.1430 range.
Stay informed on platinum price trends in Jayankondam. Today’s rates stand at ₹51,060
for 10g, ₹5,10,600 for 100g, and ₹51,06,000 for 1kg. In June, platinum
saw fluctuations. The highest rate for 100g touched ₹5,95,300,
and the lowest fell to ₹5,10,200. For 1kg, prices ranged from
₹51,02,000 to ₹59,53,000.
Global supply chains, mining rates, and geopolitical issues are major drivers of platinum
prices. Demand from the auto and electronics industries adds pressure. Exchange rate
movements, especially against the US dollar, combined with inflation trends and central
bank strategies, contribute significantly to changes in platinum’s market price.
Despite the weakness in the pair’s trading, its repeated stability above the additional support level at 213.50, combined with the Stochastics’ attempt to provide positive momentum, has led to the formation of some bullish waves, helping the pair maintain its position around 214.80.
We reiterate the importance of a breakout above the resistance level at 215.50, as this would allow the pair to form strong upward waves. In that case, the price is expected to be attracted initially toward 216.10 and then 216.65.
The expected trading range for today is between 214 and 216
Silver (XAG/USD) price advances over 4% on Thursday after bouncing off daily lows of $61.51, its lowest level since March 23, after US President Donald Trump announced he cancelled scheduled attacks against Iran this evening, saying that final points of an agreement have been approved. At the time of writing, the XAG/USD pair trades at $65.91.
XAG/USD Price Forecast: Technical outlook
Silver turned downward biased. Even though it has recovered some ground, it remains below the 200-day Simple Moving Average (SMA) of $68.31, which is used to signal changes in the asset’s direction.
The Relative Strength Index (RSI) exited oversold territory, an indication that buyers moved in, but the index remains below the 50-neutral level, suggesting the white metal remains tilted to the downside.
If Silver rises past the $67.00 mark, this would open the door to challenge the 200-day SMA. Above this level, the next stop would be the $70.00 milestone.
On the bearish side, the first support for XAG/USD is the current week’s low at $61.50. A breach of the latter will expose the $60.00 mark, followed by the November 13, 2025, high turned support at $54.39.
XAG/USD Price Chart – Daily
Silver daily chart
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
The Pound US Dollar (GBP/USD) exchange rate struggled to gain traction on Thursday, with investor sentiment dented by lingering uncertainty in the Middle East.
At the time of writing, GBP/USD was trading at around $1.3362, slightly lower on the day.
The US Dollar (USD) stood its ground against a majority of its peers on Thursday, as a broad wave of risk aversion fuelled demand for the safe-haven currency.
Escalating friction in the Middle East weighed heavily on market risk appetite following a second consecutive day of US airstrikes against Iran.
While this latest flare-up threatens to disrupt peace negotiations, media reports suggesting that diplomatic discussions are still quietly underway helped stabilise market sentiment. Ultimately, these rumours capped the ‘Greenback’ from advancing any further.
The increasingly risk-sensitive Pound (GBP) encountered headwinds amid the downbeat market sentiment on Thursday.
However, Sterling managed to avoid steep declines thanks to a retreat in UK government bond yields. Despite the geopolitical friction in the Middle East, energy commodities held relatively steady, which helped soothe worries within the bond market.
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Near-Term GBP/USD Forecast: UK Growth Data in Focus
Looking ahead, Friday’s UK GDP release could drive movement in the GBP/USD exchange rate.
The British economy is expected to have shrunk by 0.1% in April. A contraction could revive concerns over the UK’s economic outlook, potentially denting demand for the Pound.
Such a result may also prompt investors to pare back Bank of England (BoE) interest rate hike bets ahead of next week’s policy decision, placing further pressure on Sterling.
Meanwhile, the US Dollar could take direction from the University of Michigan’s latest consumer sentiment index. Economists expect morale to have improved in June, which may lend the ‘Greenback’ support.
Ongoing geopolitical anxiety could also buoy USD, particularly if tensions in the Middle East continue to keep investors wary.
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Silver has drifted a little bit lower during the trading session here on Wednesday as interest rates remain elevated.
What’s interesting is that the gold market really fell apart, and silver was a little bit more resilient, but I have a theory.
My theory, of course, is that there will be more demand for silver going forward than gold because not only do we have a scenario where interest rates have an influence, but we also have to keep in mind that the amount of supply of silver is nowhere near sufficient to satiate the demand that AI data centers and the electrification of the economy are going to demand.
It’s very similar to the situation copper’s in. I believe at this point in time that silver will fare better than gold, but that doesn’t necessarily mean that it will go higher. Interest rates being elevated the way they are and remaining elevated the way they are due to the concerns of, or in the Middle East and the supply chain, I think, continues to be the biggest headwind here.
I See Support Below
Really at this point in time, if we do continue to drop, I think the $60 level is a fairly strong floor. Nonetheless, I think this is a market that, if we do see rates drop, this will be a natural place for buyers to jump in.
If we were to break to the upside, the 200-day EMA is a short-term ceiling, breaking above that then allows the market to challenge $70. Long-term, I fully anticipate that silver will reach $120 again, but we have a lot of work and a lot of things that have to fall in line. If you’re an investor, this might be an area where you would pick up a little bit of silver. If you’re a trader, you still have to see this as a bearish market.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
The US dollar has rallied slightly in the early part of the trading session on Wednesday, as we continue to see the USD jump against the Japanese yen. The question now is whether or not the Bank of Japan is going to intervene, as we are getting close to those levels they defended previously. This is essentially a swing high that dates back to the 1990 trading year, when we started seeing the dollar really fall.
30+ Year Rounding Bottom
We have formed a massive rounding bottom that goes back to that time period. At this juncture, if we were to break out to the upside, you could be talking about a move all the way back to the 225 yen level. That, for me, would be an ultra-long-term prediction, assuming that it even could come true. However, in the short term, I would anticipate that there will probably be a lot of questions asked about this general vicinity. This is an area that could determine what happens for the next several years if history tells us anything.
Most of the time, central bank intervention only temporarily slows down what the market wants. If we do pull back from here, the 160 yen level should be an area that could offer support; after that, we would look at the 50-day EMA, which is presiding right around the 159 yen level. If the Bank of Japan does choose to intervene, I think that’s great—it means a day or two later, I can start buying the dollar again and collecting swap (the interest rate differential) at the end of each trading session. I really don’t see how this pair doesn’t break out eventually. It might be noisy and choppy, but don’t sleep on this market.
Christopher Lewis is a technical analyst and market commentator at DailyForex with more than two decades of trading experience in Forex and other leveraged markets. Based in Columbus, Ohio, he specializes in chart-based analysis of major currency pairs, stock indices, commodities, and energy markets, focusing on clear support and resistance levels, trend structure, and risk management. Christopher produces daily written and video analysis for traders who rely on technical setups to navigate volatile market conditions
As seen on:Pairs Of Aces Podcast,The Trader Guy, FXEmpire
There is no change in natural gas price trading, trading in sideways range while remaining near the $3.200 level. This behavior is influenced by the ongoing conflict among the main technical indicators during the recent period.
Noting that Stochastic attempt to exit the overbought zone could increase negative pressure on current trading, making it easier for the price to target negative levels at $2.950 and $2.800.
The price’s move to bullish trend requires a strong bullish rally to settle above $3.520 level, which allows it to record several gains by its gradual rally towards $3.710 and $3.950.
Expected trading range for today: Between $2.950 and $3.300
