Silver Bulls Resurface Ahead of Nonfarm Payrolls

commodities trading
Matt Simpson financial analyst
By :  ,  Market Analyst

In today’s video we update our silver analysis using the daily timeframe for the broader structure, then drill down to the intraday chart to finetune the bias over two-time horizons.

In yesterday's video, was openly asked if the correction on JPY pairs were complete. The answer was a resounding “no”. Out of the three markets covered, CAD/JPY did the best to try and not roll over and is just about managing to stay above the May high. It still shows potential to eventually break higher but, for now, we’re happy to step aside. EUR/JPY printed a bearish outside day and pulled back the monthly pivot and 50-day eMA, so that is removed. Whilst GBP/JPY literally rolled over and crashed through key support following the BOE’s decision to hold interest rates, thus firmly removing itself from the bullish watchlist.

 

 

How to trade with FOREX.com

Follow these easy steps to start trading with FOREX.com today:

  1. Open a Forex.com account, or log-in if you’re already a customer.
  2. Search for the pair you want to trade in our award-winning platform.
  3. Choose your position and size, and your stop and limit levels.
  4. Place the trade.

Open an account in minutes

Experience award-winning platforms with fast and secure execution.

Live Trading Webinars

Our interactive webinars, led by our industry experts, come highly recommended and can help provide your trading with the edge it needs.
Economic Calendar