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Silver and eurodollar form continuation of New Year’s movements


Good afternoon!

The market is slowly preparing for Christmas and New Year holidays, so do not forget that at this time the market becomes “thin” and can bring many surprises in the form of unexpected and illogical movements.

Bitcoin continues to “walk” in a narrow range, determining the future direction. The market focus remains at the resistance level of 18350, where the broken ascending channel also passes. The scenario at the current moment is a rebound from the horizontal indicated above:

Silver is approaching the resistance level of 24.75, from which it can potentially try both to rebound and break through the line. Considering the upward dynamics of quotes, it is worth considering the possibility of a horizontal breakout, but it is still important to focus on the price behavior near the indicated line (the formation of candlestick signals):

Silver and eurodollar form continuation of New Year's movements

The Eurodollar is forming a pennant after the breakdown of the downward channel, which may be a signal for a further uptrend. Now the price is “ramming” the level of 1.0600, which can become support for further growth of the single currency:

Silver and eurodollar form continuation of New Year's movements

Oleg Svirgun, analyst at the brokerage company Tickmill

22/12/2022

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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