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Silver is dropping: Technicals and Fundamentals (/SIU7)

Silver is dropping. A good short IMHO. Here's why:

Technicals

On the D1, you can see a really beautiful, repetitive descending sinusoidal wave forming. It is respecting its channel quite nicely. Lower highs and lower lows mean a definite southbound trend. I ran a Fibonacci extension off of the last wave, and since I bow to the temple of the Fibonacci Sweet Spot (the 0.5-0.618 zone), this puts the target price firmly in the $15.48-$15.16 target range for exit. Nature Respects the Fib. Note that we are at a support line right now between $16.25-$16.18. If it breaches this, it should drop nicely.
Check out this /SIU7 D1 chart
Remember that Previous Price Performance Probably Predicts Pending Principal Projections.

Fundamentals

For those of you who are new - let's learn some Forex. Metals are correlated to the JPY (Japanese Yen), gold more than silver, but both tend to follow the currency quite nicely. Yen up = metals up, and Yen dropping = metals dropping, almost to a T. Gold follows this almost rigidly, it is spooky how gold will mirror JPY almost to a tick. Now, most FX traders look at USDJPY... which means that when USDJPY drops, that means Yen is going up, which means metals should climb. Hence, metals are inversely correlated to USDJPY.
USDJPY is climbing. US inflation is what everyone is jabbing about - Dollar stronk(er) this week, at least in relation to the Yen. There is a "widening of the interest rate differential between U.S. Government Bonds and Japanese Government Bonds"; as well, there is an increasing demand for higher risk assets... which straight forward means that money will move away from metals and away from the Yen, both of which are seen as safe havens in tough times. Read on: https://www.fxempire.com/forecasts/article/usdjpy-fundamental-weekly-forecast-its-all-about-u-s-inflation-this-week-427595
Also, USDJPY produced a doji on the W1 chart, a decent reversal signal when correlated with other data. Higher time-frames produce stronger signals, and algos have more money and power than you ever will, trader..... and those AIs respect these levels very much. Check it out: https://www.fxstreet.com/analysis/usd-jpy-forecast-bullish-follow-through-likely-after-last-weeks-doji-201708070413
Would love to hear other trader's thoughts.
I'm short 1 contract of /SIU7. Don't coattail me without doing your own DD, if you lose money, it's your own fault, you should have stayed in school and gotten that plebe job like momma said, ya loser =)
Remember that Silver is a very highly leveraged asset, one tick = $0.005 and each tick is $25.00. This means that $1.00 movement in the price of silver is worth $5,000.00 per contract!! Please protect yourself with stops and don't be afraid to take profits. Silver has tickled many a traders greed gland, usually rectally, and this has led to massive destruction more than once....
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GBP/USD Weekly Forecast| Global stock market selloff contributed to US Dollar strength

GBP/USD Weekly Forecast| Global stock market selloff contributed to US Dollar strength

GBP/USD Weekly Forecast

  • The GBP/USD is trading little modified above 1.2800 after falling to the 7-week low of 1.2777 on a combination of Brexit uncertainty and danger-off sentiment.
  • The rumors of deep department inside Theresa may additionally’s cabinet and Brexit negotiating team surfaced.
  • at the same time as the bank of England Inflation file is about to voice Brexit uncertainty as a key threat to the economic and financial coverage outlook, the united states hard work market is about to flex its muscle.
  • The FxStreet Forecast ballot GBP/USD turned much less bullish for the 1-month and three-month time.
Without a critical fundamental news scheduled for the United Kingdom at some stage in the fourth week of October, it became the Brexit related uncertainty that drove Sterling decrease, particularly after the almighty British media said that the UK high Minister Theresa may also is losing manage over her personal cupboard as the division amongst her team participants rose.

Any other element helping the USA greenback and different safe-haven currencies during the fourth week of October turned into the equity market selloff with robust and volatile actions of 2%-3% up and down. The equity marketplace volatility did not make bigger in terms of length, but it has sent a shock wave across the globe and noticed the typical secure-haven currencies like US dollar and Japanese Yen rising.

The GBP/USD is moving in a downward sloping trend framed by ultimate week’s excessive of 1.3238 and Monday’s excessive of one.3091. After falling sharply on Monday toward 1.2940, the GBP/USD recovered on Brexit optimism on Tuesday simply to fall lower back to October lows on Wednesday and fell further down on Thursday and Friday. The technical oscillators consisting of Momentum and the Relative energy Index both grew to become higher in the impartial territory on a day by day chart. The gradual Stochastic made a flow deeply into the bullish territory with swing upwards being the maximum probably move. After the GBP/USD fell beyond price goal of 1.2920 and fell beneath 1.2800 to reach a 7 week low, the strain on falling in addition towards 2018 low of one.2662 will mount.

The economic event next week

The UK Economic features the headline of the beginning of November in the Bank of England November Inflation Report due next Thursday. The Bank of England is not expected to either change the Bank rate or to twist the asset purchasing program. It is expected to repeatedly voice their concern about the Brexit uncertainty as both the European Union and the United Kingdom are still far from reaching the final Brexit agreement although there has been a significant progress on a wide range of issues in the Brexit negotiations.
If you want some more info about Forex market Please contact on my whats app +91-9630405825.....and email also [[email protected]](mailto:[email protected])
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