Silver is trying to bounce as interest rates ease, with a break above the 50-day EMA potentially opening a short-term move toward $79.75.
Technical Analysis
About Christopher Lewis
Christopher Lewis is a Columbus, OH-based Forex trader who enjoys trading a wide range of pairs from the traditional EUR/USD to more exotic USD/RUB, and many things in between. Unlike many Forex traders who prefer to trade in a specific market session, Christopher takes advantage of the flexibility provided by the currency markets, and he trades in all sessions, most often when he’s taking a study break from pursuing degrees in both finance and computer science.
Mr. Lewis most often trades on the daily or weekly chart, rather than on a shorter time frame, making his market outlooks suitable for traders in all time zones. In addition to multiple daily analyses, he has been providing DailyForex.com traders with regular video analyses for several years. He also contributes weekly Forex forecasts, monthly outlooks and even yearly forecasts, all of which are all highly valued by his loyal following. Christopher has tested dozens of Forex trading platforms during his years as a trader, though he now uses GFT’s 360 DealBook when placing personal trades.
In late 2014 Mr. Lewis began contributing signals to ForexSignalz.com, where he collaborates with DailyForex’s chief trader, Adam Lemon, to provide additional signals to serious traders directly to their mobile phones. Mr. Lewis’s signals, although not overly aggressive, are largely based upon his own personal trades and trading strategies that he has cultivated over many years, making them suitable for traders at all levels and for traders using a range of trading platforms.
When he’s not studying, trading or chasing after his two young children, Christopher manages to find time to operate his own Forex website, aptly called The Trader Guy.
Latest 12 Articles
USD/MXN remains bearish as risk appetite supports the peso, with rallies toward 17.45 likely to attract sellers while 17.20 and 17.00 act as support.
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The CAC 40 has turned more constructive after breaking above key moving averages, with buyers targeting 8,400 if risk appetite continues to improve.
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USD/JPY remains bullish as dip buyers defend the 158 area, with rising yield differentials keeping the focus on a potential move toward 160.
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GBP/CHF is strengthening as risk appetite returns, with the pair supported by a wide rate differential and a potential breakout above 1.0630.
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The NASDAQ 100 is rising again as falling US yields support risk appetite, with buyers targeting 30,000 while 28,500 remains key support.
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Gold is attempting to rebound as US yields ease, but traders may remain cautious unless prices reclaim $4,600 and bond-market pressure fades.
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USD/CAD is consolidating near the key 1.3750 zone, with a break above the 200-day EMA favoring bulls and a move below the 50-day EMA exposing 1.36.
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Bitcoin is finding buyers near the 50-day EMA as easing yields support risk appetite, while the 200-day EMA remains the next major resistance level.
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AUD/USD remains supported by softer US yields, RBA hawkishness, and commodity strength, with dips still favored while price holds above recent lows.
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After all, most large money managers are perfectly content to put some of their money in a 10-year note that yields 4.655%. So, with that being said, I do think that we will continue to see trouble for silver, but I don't necessarily expect a major breakdown.
Technical Analysis
USD/MXN is bouncing toward resistance, but the broader bias still favors selling exhaustion near 17.50 as the peso carry trade remains attractive.
Technical Analysis
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