Daily Analysis For Silver (XAGUSD)   19-07-2022

Daily Analysis For Silver (XAGUSD) 19-07-2022

Description
Economic Events for Today :-
  • GMT *** Event
  • 13:30 *** ECB Bank Lending Survey
  • 14:30 *** HICP (MoM)(Jun)
  • 14:30 *** HICP-X F,E,A,T (MoM)(Jun)
  • 14:30 *** HICP-X F,E,A,T (YoY)(Jun)
  • 18:00 *** Building Permits (MoM)(Jun)
  • 18:00 *** Housing Starts (MoM)(Jun)
Today's Scenario :-
On Tuesday, the USD/JPY fell for the third day in a row owing to weak USD demand. The dollar remained under pressure as the chances of a more aggressive Fed rate rise in July dwindled. The policy difference between the Fed and the Bank of Japan favours optimistic traders and should help prevent further losses.
Buy Scenario :-
Support might be found around the recent lows of 134.75 between 136.14 and 134.27 may be the buyer are attractive on this zone, until buy are not supported
Sell Scenario
The USD/JPY pair was observed trading with minor intraday losses, around the 138.00 level, during the early European session on Tuesday, for the third consecutive day.
Today’s Support and Resistance Level :-
  • S1 117.90 *** R1 125.57
  • S2 118.66 *** R2 125.85
  • S3 120.66 *** R3 129.00

Discussion

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