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Silver bulls seeking further weakness in USD on key week ahead

From fxstreet.com

XAG/USD bulls seeking a break of hourly and then daily resistance. The US dollar will be a major focus in key US data this week. Silver is holding steady in holiday thin markets for the open after it took a blow on Friday and ended the day lower by 0.65%. New York traders started to pile into the US dollar on upbeat data and due to month-end. XAG/USD fell from a high of $26.19 and some change to a low near $25.80. However, the bears will be looking for further dollar weakness for the time to come. The greenback will be sensitive to the economic data coming through after the Fed's policy meeting on Wednesday where ... (full story)

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  • Category: Technical Analysis