Bitcoin price (BTCUSD) is testing the key resistance 95195.00$ now, noticing that the EMA50 meets this resistance to add more strength to it, while stochastic loses its positive momentum clearly to show overbought signals now.
Therefore, these factors encourage us to keep our expectations of continuing the bearish correction in the upcoming sessions, reminding you that our targets begin at 91000.00$ and extend to 87055.00$, reminding you that breaching 95195.00$ will stop the bearish trend and push the price to return to the main bullish track again.
The expected trading range for today is between 91500.00$ support and 96500.00$ resistance.
Silver price could regain its ground as the daily chart analysis suggests a persistent bullish bias.
The pair may appreciate toward its primary resistance around its two-month high of $32.28.
The immediate support appears at a nine-day EMA of $30.82, followed by the ascending channel’s lower boundary.
Silver price (XAG/USD) halts its three-day winning streak, trading around $31.30 per troy ounce during Asian hours on Friday. A daily chart analysis suggests a persistent bullish bias for the precious metal, as its price continues to rise within an ascending channel pattern.
The XAG/USD pair trades above both the nine-day and 14-day Exponential Moving Averages (EMAs), suggesting that short-term momentum is strong. Additionally, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, reinforcing the active bullish sentiment.
On the upside, the Silver price could find its initial resistance around its two-month high of $32.28, last achieved on December 9. A break above this level would support the XAG/USD pair to test the upper boundary of the ascending channel at $32.60.
Immediate support is located at a nine-day EMA of $30.82, followed closely by a 14-day EMA of $30.66 which is aligned with the ascending channel’s lower boundary. A break below this crucial support zone would cause the emergence of the bearish bias and put pressure on the XAG/USD pair to navigate the region around its four-month low of $28.74, recorded on December 19.
XAG/USD: 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.
Breakout Above Friday’s High is a Sign of Strength
Depending on where it closes the day, today’s price action might result in a bullish hammer candlestick pattern. If it does, a breakout above Friday’s high of 3.12 will show strength and a one-day bullish reversal from a key long-term support zone. Whether strength continues from there remains to be seen.
Further testing of the support zone may also occur before bullish follow through. Upside price targets for a bullish reversal, if it is sustained, start with the completion of a gap at a daily low of 3.36 and a prior swing high at 3.39. Notice that there are two metrics pointing to a similar price area thereby increasing the potential significance of that price zone.
Key Upside Target Around 50-Day MA
Since the 50-Day MA was busted on the way down earlier this week, it seems likely to be tested as resistance on the way back up. And the 50-Day line is joined by the 38.2% Fibonacci retracement. Together, they identify a potential resistance zone around 3.51. Next up, there is a potentially more significance resistance zone from 3.64 to 3.71.
The range begins with a prior swing high and top of the symmetrical triangle bottom at 3.64. Included within the range is the 50% retracement at 3.67. Finally, it ends with the 20-Day MA, which is currently at 3.71. Note that the 20-Day line is falling and getting closer to the 50% retracement. A declining trendline showing dynamic resistance of the current bearish correction has been added to the chart as a guide.
For a look at all of today’s economic events, check out our economic calendar.
Brent oil price faces negative pressure to attempt to break 77.05$ level, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for the upcoming period, reminding you that the main waited target reaches 78.40$, taking into consideration that confirming breaking 77.05$ will put the price under negative pressure that targets 75.66$ initially.
The expected trading range for today is between 76.00$ support and 79.00$ resistance.
Silver price could regain its ground as the daily chart analysis suggests a persistent bullish bias.
The pair may appreciate toward its primary resistance around its two-month high of $32.28.
The immediate support appears at a nine-day EMA of $30.82, followed by the ascending channel’s lower boundary.
Silver price (XAG/USD) halts its three-day winning streak, trading around $31.30 per troy ounce during Asian hours on Friday. A daily chart analysis suggests a persistent bullish bias for the precious metal, as its price continues to rise within an ascending channel pattern.
The XAG/USD pair trades above both the nine-day and 14-day Exponential Moving Averages (EMAs), suggesting that short-term momentum is strong. Additionally, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, reinforcing the active bullish sentiment.
On the upside, the Silver price could find its initial resistance around its two-month high of $32.28, last achieved on December 9. A break above this level would support the XAG/USD pair to test the upper boundary of the ascending channel at $32.60.
Immediate support is located at a nine-day EMA of $30.82, followed closely by a 14-day EMA of $30.66 which is aligned with the ascending channel’s lower boundary. A break below this crucial support zone would cause the emergence of the bearish bias and put pressure on the XAG/USD pair to navigate the region around its four-month low of $28.74, recorded on December 19.
XAG/USD: 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.
Gold price settles above 2790.00$ level, to keep the bullish trend scenario active for today, reminding you that our next station is located at 2808.20$, which breaching it represents the key to head towards 2850.00$ as a next main target.
The EMA50 supports the suggested bullish wave, which will remain valid unless breaking 2790.00$ and holding below it.
The expected trading range for today is between 2780.00$ support and 2820.00$ resistance.
The GBPJPY pair faced strong negative pressures yesterday to notice crawling below 191.90 level and suffering some losses by touching 191.15 level, while the current positive rebound won’t allow the price to regain the bullish track due to the MA55 consolidation near 50% Fibonacci correction level at 194.10, to confirm confining trades within the negative track for the near-term trades.
Also, stochastic crawl below 50 level will increase the negative pressures to expect suffering additional losses by crawling towards 190.60 followed by reaching the next support at 189.50.
The expected trading range for today is between 190.60 and 192.60
Silver price bounces back to near $30.50 as its outlook remains firm on Donald Trump’s tariff fears.
Donald Trump reiterated that he will impose 25% tariffs on North American peers and 100% on BRICS.
Investors await the US PCE inflation data for December.
Silver price (XAG/USD) recovers a majority of intraday losses and rebounds to near $30.50 in Friday’s European session. The white metal bounces back strongly as its outlook remains firm amid fears that United States (US) President Donald Trump will impose 25% tariffs on Canada and Mexico on Saturday for allowing illegal immigrants and the deadly opioid fentanyl enter into the economy. Such a scenario could lead to a trade war, which heightens geopolitical uncertainty, which is favorable for precious metals, like Silver.
Donald Trump has also threatened to implement 100% tariffs on the BRICS for attempting to create a new currency to diminish their reliance on the US Dollar. On his social media platform, Truth Social, on Thursday, Trump said, “There is no chance that the BRICS will replace the U.S. Dollar in International Trade or anywhere else, and any Country that tries should say hello to Tariffs and goodbye to America.”
Meanwhile, the US Dollar’s (USD) appeal has also increased on Trump’s tariff threats but is trading subduedly in European trading hours ahead of the US Personal Consumption Expenditure Price Index (PCE) data for December, which will be published at 13:30 GMT. Economists estimate the core PCE inflation to have risen by 0.2% against 0.1% growth seen in November on month-on-month, with annual figures growing steadily by 2.8%.
Signs of persistent inflationary pressures would boost market expectations that the Federal Reserve (Fed) will keep interest rates at their current levels for a lengthy period. On Wednesday, the Fed left its key borrowing rates steady at 4.25%- 4.50% and guided that the central bank will remain in the waiting mode until it sees real progress in inflation or some weakness in the labor market.
Silver technical analysis
Silver price strengthens on a decisive break above the upward-sloping trendline around $30.85, which is plotted from the 29 February 2024 low of $22.30 on a daily timeframe. The near-term outlook of the white metal remains firm as it holds the 20-day Exponential Moving Average (EMA), which trades around $30.57.
The 14-day Relative Strength Index (RSI) climbs above 60.00. A fresh bullish momentum would trigger if the RSI manages to hold above 60.00.
Looking down, the January 27 low of $29.70 will act as a key support zone for the Silver price. On the upside, the December 12 high of $32.33 will act as key resistance.
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.
Crude oil price closed yesterday above 73.90$ level, to attempt to build bullish wave on the intraday basis and head towards achieving expected gains in the upcoming sessions, targeting testing 75.52$ mainly.
Therefore, the bullish bias will be suggested for today, noting that breaking 73.90$ and holding below it will push the price to resume the correctional bearish track and head towards 72.30$ as a next negative station.
The expected trading range for today is between 72.80$ support and 75.80$ resistance
Gold price consolidates at fresh record highs of $2,800 early Friday.
Renewed Trump’s tariff threats spark the safe-haven appeal of Gold price.
The Dollar lacks bullish conviction amid disappointing US growth figures.
The daily technical setup points to more gains in the offing for Gold buyers.
Gold price is battling $2,800, sitting at its highest level on record early Friday. Renewed US Dollar selling and US President Donald Trump’s tariff threats help keep Gold price afloat ahead of the US core Personal Consumption Expenditures (PCE) Price Index release.
Gold price eyes higher highs as Trump’s tariffs loom
President Trump’s latest tariff warnings keep investors on the edge, fuelling fresh demand for traditional safe havens such as the Japanese Yen, Gold and US government bonds. In his latest post on X, the 47th US President reiterated his threat of imposing 100% tariffs on BRICS nations if they try to replace the US Dollar with a new currency in international trade.
Earlier in Thursday’s American trading, Trump noted that the US is set to impose a flat 25% import tax on February 1 “because of fentanyl” on all goods crossing the border into the US from Canada or Mexico while adding that “we’re in the process of doing a China tariff.”
Resurgent demand for the traditional store of value keeps the record-setting rally in Gold price alive and kicking as the US Dollar (USD) struggles amid the ongoing pressure on the USD/JPY pair. The Japanese Yen capitalizes on risk-off flows and hot Tokyo Consumer Price Index (CPI) inflation data, which bolstered further Bank of Japan (BoJ) interest rate hike bets.
Traders now look to the US core PCE Price Index data, the Federal Reserve’s (Fed) preferred inflation measure, for fresh insights on the central bank’s next policy move, especially after the American economy showed a bigger-than-expected slowdown in the final quarter of 2024.
US Gross Domestic Product (GDP) rose at an annualized pace of 2.3% in the fourth quarter, the Commerce Department said, falling short of the 2.6% increase expected after reporting a growth of 3.1% in the third quarter.
The US Dollar tracked the US Treasury bond yields lower on disappointing US growth figures as the data revived dovish Fed expectations. However, Trump’s tariff threats lent some support to the Greenback in late American trading. However, that failed to deter Gold buyers as a flight to safety theme remained in vogue.
With tariffs likely to be announced over the weekend on Canada, Mexico and China, Gold price will remain the go-to asset due to its status as a safe-haven and an inflation hedge. Trump’s trade policies are prerceived as inflationary.
Gold price stands tall near fresh record highs after closing Thursday well beyond the symmetrical triangle target of $2,785 or the previous all-time high of $2,790.
The 14-day Relative Strength Index (RSI) is currently near 68, suggesting that there is more room to the upside before Gold price enters the overbought territory at 70.
Adding credence to the bullish potential, the 50-day Simple Moving Average (SMA) and 100-day SMA Bull Cross confirmed last week remains in play.
Gold price needs a sustained move above the $2,800 level to target next topside barrier at $2,850.
On the downside, the immediate support will be seen at the previous day’s low of $2,754.
Sellers will then aim for this week’s low of $2,731, folowed by the 21-day SMA at $2,714.
US-China Trade War FAQs
Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.
The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.
