OctaFX | OctaFX Forex Broker
Open trading account

Silver plunges lower below support, falls to $28.26

FXstreet.com (Barcelona) - Silver spot prices have found themselves under siege Thursday during American trading after the joint forces of optimism surrounding the finality of Cyprus quagmire and strong US GDP data have compounded against the white metal. A waning spot price has made short work of support at 28.50, with prices steadfastly approaching the next measure of correction at 28.20. In these moments, the price of silver is negotiating a price of USD $28.26 per oz.

Until silver falls below the 28.20 support, a sideways trading strategy still holds, though the MACD is firmly negative. Heading into a long weekend for most traders, any recovery in silver will generally be viewed as a positive for the duration of the day.

Forex: EUR/USD hovering over 1.2815/20

The bloc currency remains buoyant on Thursday in the vicinity of 1.2815/20, although retreating from session highs above 1.2840, as concerns on Cyprus seem to be at ease for now...
Read more Previous

Forex Flash: Buy USD/SGD on dips – Westpac

The SGD should continue to outperform the EUR but we are skeptical as to how far it will rally against the USD. Indeed, Singapore data has been mixed this week. Inflation spiked higher but IP growth remained disappointing. Core inflation rose to 1.9% from 1.2% previously, which is still well below levels seen in the early part of last year. There is also a sense that inflation pressures should remain on easing trend throughout the rest of this year.
Read more Next
Start livechat