empty
23.01.2025 01:15 PM
XAG/USD. Silver Still Has a Chance to Break the Downtrend

This image is no longer relevant

Silver has encountered significant resistance from the downward channel near the 100-day Simple Moving Average (SMA), interrupting a three-day winning streak that had pushed prices to the psychological level of $31.00.

From a technical perspective, the $31.00 level represents a confluence barrier, combining the 100-day SMA and the upper boundary of a multi-month downward channel. This barrier is a critical turning point. A decisive break above it could pave the way for further short-term gains. Given that oscillators on the daily chart remain in positive territory, the XAG/USD pair could overcome intermediate resistance at $31.25 and rise toward $31.50. The momentum may then continue, reclaiming the psychological $32.00 level and targeting the December high near $32.30.

On the other hand, any further pullback is expected to find solid support near the 200-day SMA, attracting buyers around the $30.00 psychological level. A convincing break below this level could leave the XAG/USD pair vulnerable to accelerated declines toward the $29.60 level, before eventually dropping to the round figure of $29.00 and potentially retesting the multi-month low reached in December.

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

USD/JPY: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Japanese Yen The 148.53 price test occurred when the MACD indicator was just starting to move upward from the zero mark, confirming a correct

Jakub Novak 18:34 2025-03-20 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the British Pound The 1.2976 price test occurred when the MACD indicator had already moved significantly below the zero mark, limiting the pair's downward potential

Jakub Novak 18:32 2025-03-20 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 20th (U.S. Session)

Trade Analysis and Recommendations for the Euro The 1.0887 price test coincided with a moment when the MACD indicator had already moved significantly below the zero mark, which limited

Jakub Novak 18:29 2025-03-20 UTC+2

USD/JPY. Analysis and Forecast

The Japanese yen maintains its bullish bias, driven by expectations that the Bank of Japan will continue raising interest rates this year. A strong increase in wages could boost consumer

Irina Yanina 10:31 2025-03-20 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 20. Review of Yesterday's Forex Trades

The price test at 149.63 occurred when the MACD indicator had just begun moving downward from the zero mark, confirming a valid entry point for selling the dollar

Jakub Novak 08:08 2025-03-20 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 20. Review of Yesterday's Forex Trades

The price test at 1.2978 occurred when the MACD indicator moved significantly above the zero mark, limiting the pair's upward potential. For this reason, I did not buy the pound

Jakub Novak 08:07 2025-03-20 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on March 20. Review of Yesterday's Forex Trades

The price test at 1.0911 occurred when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upward potential. For this reason

Jakub Novak 08:07 2025-03-20 UTC+2

Intraday Strategies for Beginner Traders on March 20

The euro and the pound managed to withstand the pressure they faced before the Federal Reserve meeting and continued to rise immediately after. It was announced that the Federal Open

Miroslaw Bawulski 07:33 2025-03-20 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on March 19th (U.S. Session)

The test of the 149.59 level coincided with the MACD indicator just starting to move downward from the zero mark, confirming a valid entry point for selling the US dollar

Jakub Novak 18:13 2025-03-19 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on March 19th (U.S. Session)

The test of the 1.2975 level occurred when the MACD indicator had already moved significantly below the zero mark, which limited the pair's downward potential. For this reason

Jakub Novak 18:07 2025-03-19 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.