Silver analysis

Comex silver price trying to push our hurdle of 16.62$ but unable to do so. It made high of 16.55$ and then reversed from there. Currently prices are struggling to even cross 16.40$. A good support on silver chart stands at 16.20$. If traders break this support and manage to sustain trade below our support. Then expect good pressure in silver price upto 16$- 15.80$ today.

A good resistance on silver chart stands at 16.62$, Once traders break this hurdle and manage to sustain trade above our resistance. Then expect good rise in silver price upto 16.84$- 17.05$ today.

Silver analysis conclusion: Silver analysis is flat to weak for now, Stay cautious while taking a buy till our resistance is intact. No sell recommendation on these levels too.

Read our gold analysis here

Euro analysis

Euro to dollar trading at 1.1541, It tanked nearly 70 pips from its rise when Italy face political emergency yesterday. Currently euro trading at 1.1542. A good support on this major forex pair stands at 1.1500. If traders break this support and manage to sustain trade below our support. Then expect good pressure in euro upto 1.1450- 1.1400 today.

A good resistance on this major forex pair stands at 1.1590, If traders break this resistance and manage to sustain trade above our hurdle. Then expect good recovery in euro upto 1.1640- 1.1680 today.

Euro analysis is flat to positive for now. No more selling in euro to dollar for now.

Bitcoin analysis

As stated in our yesterday’s post here, bitcoin may rise a bit and we may take small buy. Those who initiated buy must have fetched nearly 100-200$ in bitcoin. Currently BTC/USD price trading at 7420$. A good support on this cryptocurrency chart stands at 7200$. If traders take this support out and manage to sustain below our support. Then expect more pressure in bitcoin price upto 7000$- 6800$ today.

A good resistance on bitcoin chart stands at 7650$, If traders break this hurdle and manage to sustain trade above our resistance. Then expect good rise in bitcoin price upto 7800$ – 8000$ today.

Bitcoin analysis is flat to positive for now, So should we buy now? Wait for dip near support and take small buy with stoploss below support for 100-150$.

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By marafat

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