Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
Vladimir Zernov

Silver Video 26.10.20.


Strong U.S. Dollar Puts Pressure On Silver

Silver declined below the 50 EMA at $24.55 as the U.S. dollar gained ground against a broad basket of currencies amid virus fears and stimulus uncertainty.

Know where Silver is headed? Take advantage now with 

75% of retail CFD investors lose money

The U.S. Dollar Index continues its attempts to settle above the nearest resistance level at 93. If the U.S. Dollar Index manages to settle above this level, it will gain additional upside momentum and head towards the 20 EMA at 93.30 which will be bearish for silver.

Meanwhile, gold continues to trade near its 50 EMA at $1905. In recent trading sessions, gold made several attempts to move away from this level, but these attempts were not successful. If gold settles above the 50 EMA, it will have a chance to develop upside momentum which will be bullish for silver and other precious metals.

Gold/silver ratio is currently testing the resistance at the 50 EMA at 78.20. A move above the 50 EMA will open the way to the test of the next resistance at the 80 level which will be bearish for silver.

Technical Analysis


Silver is currently trying to settle below the nearest support level at the 50 EMA at $24.55. If this attempt is successful, silver will gain additional downside momentum and head towards the next support level at $23.90. RSI is in the moderate territory so there is plenty of room to gain momentum in case the right catalysts emerge.

If silver manages to get below the support at $23.90, it will head towards the next support level at $23.30. A move below $23.30 will push silver towards the support level at October lows at $22.90.

On the upside, silver needs to get back above the 50 EMA to have a chance to develop upside momentum. If silver is able to settle above this level, it will head towards the next resistance at $25.00.

In case silver gets above $25.00, it will move towards the resistance at October highs at $25.55. A move above this resistance level will push silver towards the next resistance level at $25.85.

For a look at all of today’s economic events, check out our economic calendar.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.