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The5ers - Funding Forex Traders & Growth Program
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[QUOTE="The5ers, post: 203507, member: 70285"] [B]Weekly trade idea on XAG/USD.[/B] Week: 10-14.01.2022 [B]CPI/PPI/Retail Sales.[/B] There are a few volatility events being released this week for the USD, which we will need to keep an eye on. My overall bias is a bullish one for the USD, as I believe in current times it is going to show its strength coming out of the pandemic. While all the releases are lagging macro indicators, they will still bring strong movement into the market and need to be accounted for. [B]Consumer Price Index[/B], while the past 3 months has proven good results for the USDs CPI, the recent forecast predictions are a sign that they are predicting it to slow. The forecast produced is half of Decembers release figures. I do believe the actual will be greater than the forecast; however, having such a drop in confidence is a worrying factor to macro traders. [B]Producer Price Index[/B], Unlike the CPI, I sit in a more confident position in assuming that the PPI can increase the bullish strength in the USD. [B]Retail Sales[/B]January isn’t usually a great time for retail sales as everyone calms down after the holiday period. However, a low ball forecast of 0.0% could make for catching people into thinking the sales are bullish. At this current time, I expect a continuation of the actual trend, which is bearish on Silver. [B]Key Levels:[/B] [LIST] [*]Resistance 23.50 [*]Support 21.50, 19.50 [/LIST] Trend XAG/USD Bearish Price has sat in a channel since July 2020 and is not testing the demand for the product. After testing this level many times over the past 8 months, I can see the demand drying up as the USD gets stronger. We have a free $2 worth of movement where no supply or demand zones have sat for years if we manage to break this 21.50 zone. [B]Call to Action/Trade Idea[/B] We will look for any opportunity to join the bearish trend. If we find that the price can’t break the current support of 21.50, await confirmation, then trade to the 19.50. [IMG alt="image (60)"]https://f.bpcdn.co/original/4X/b/7/2/b722275d0ceacdc005a0d1044e302caf888e5b26.png[/IMG] [/QUOTE]
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