XAGUSD (SILVER): Sells For Now, Down To 35.80In this Weekly Market Forecast, we will analyze the XAGUSD (SILVER) for the week of Aug 4-8th.
Silver was strong, sweeping a 2012 high. Then sellers stepped in for the next couple of weeks, printing bearish candles. Friday say a late rally on weak job numbers, weakening the USD and allowing Silver and other asset pairs to outperform it in the short term.
Due to the bearish close of last week's candle, the indication is the rally was a market reaction, and that the slide will continue into this week.
Until there is a bullish break of market structure, buys are not a great idea. Stick with sells, down to the Monthly +FVG.
Enjoy!
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