Silver made nice push higher in March, but made a minor five-wave move from the 32,65 level, into the strong and important resistance zone around 34.50, which we highlighted previously. There’s a chance price is now moving into deeper retracement considering broken 4h channel support.
XAGUSD 4H Chart
With the current impulsive sell-off, it can be in first leg A of a deeper ABC decline within wave D as part of a bullish A-B-C-D-E triangle, clearly visible on the daily chart. But then after a pause, we should be on alert for a push back towards the highs this year.
XAGUSD Daily Chart
For a detailed view and more analysis like this, you may want to watch below our latest recording of a live webinar streamed on March 31 2025:
Get Full Access To Our Premium Elliott Wave Analysis For 14 Days. Click here.
By using Wavetraders website, any services, products, and content contained here, you agree that use of our service is entirely at your own risk. You understand that there is a very high degree of risk involved in trading on the markets. We assume no responsibility or liability for your trading and investment results. The charts, and all articles published on www.wavetraders.com are provided for informational and educational purposes only!
By using the information and services of www.ew-forecast.com you assume full responsibility for any and all gains and losses, financial, emotional or otherwise, experienced, suffered or incurred by you.
Recommended Content
Editors’ Picks
Gold nears $3,400; fresh record highs and counting amid USD sell-off
Gold price closes in on $3,400 as the record rally regains strength on Easter Monday. Concerns over US-China trade war escalation and the Fed’s independence smash the US Dollar to three-year troughs. RSI stays overbought on the daily chart, with thin volumes likely to exaggerate moves in Gold price.
EUR/USD trades with sizeable gains above 1.1500, at over three-year highs
EUR/USD trades over 1% higher so far this Monday as the relentless selling interest in the US Dollar keeps it well above the 1.1500 threshold - the highest level since November 2021. Growing concerns over a US economic recession and the Federal Reserve’s autonomy continue to exert downward pressure on the USD.
GBP/USD stays strongly bid near 1.3400 on intense US Dollar weakness
GBP/USD continues its winning streak that began on April 8, trading close to 1.3400 in early Europe on Monday. The extended US Dollar weakness, amid US-Sino trade war-led recession fears and heightened threat to the Fed's independence, continue to underpin the pair. Thin trading is set to extend.
How to make sense of crypto recovery – Is it a buy or fakeout
Bitcoin (BTC), Ethereum (ETH) and XRP, the top three cryptocurrencies by market capitalization, extend their last week’s recovery on Monday, even as trader sentiment is hurt by the US President Donald Trump’s tariff policy and announcements.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.