Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
Cancel Confirm
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Confirm
Octa trading broker Sign up Log in
Octa trading broker
Open trading account
Trading news
Back
10 Mar 2023

Silver Price Analysis: XAG/USD hovers around $20.00 ahead of US NFP

  • Silver remains firm at around $20.00 a troy ounce, ahead of essential US data.
  • XAG/USD Price Analysis: Despite consolidating around $20.00, the bias is still downwards.

Silver price continues to trade sideways on Thursday, amidst the lack of a catalyst, ahead of the release of crucial US economic data. The US Nonfarm Payrolls report for February looming keeps investors risk averse, as shown by US equities and emerging market currencies, with the Mexican Peso (MXN) weakening. At the time of writing, the XAG/USD is trading at $20.05, up 0.19%.

XAG/USD Price action

XAG/USD remained firm during the day, unable to crack the top/bottom of the $19.98-$20.28 range. Nevertheless, traders should know Silver stumbled below the 200-day Exponential Moving Average (EMA) at $21.80, so the white metal is downward biased. Notable, the 50-day EMA is closing to the 200-day EMA, and once it crosses below the latter, a death cross would exacerbate a fall toward the November 3 daily low at $18.84.

But firstly, XAG/USD needs to clear the YTD low at $19.92. A breach of the latter will expose the $19.00 psychological level, followed by the November 3 daily low at $18.84.

As an alternate scenario, the XAG/USD first resistance would be the daily high of $20.06. Once cleared, the next resistance level would be the February 28 daily low-turned resistance at $20.43, followed by the November 28 daily low-turned resistance at $20.87.

XAG/USD Daily chart

XAG/USD Technical levels

 

Mar 9, 2023

USD/JPY eyes a break below 136.00 as investors digest Fed’s rate hike fears, BoJ policy eyed

The USD/JPY pair is delivering a sideways performance above 136.00 in the early Asian session. The asset looks vulnerable above 136.00 and is expected
Read more Previous
Mar 10, 2023

AUD/USD remains fragile below 0.6600 as US NFP looms

AUD/USD justifies its risk-barometer status while revisiting the sub-0.6600 area during early Friday, after a failed attempt to recover from the four-
Read more Next