Silver is in a descending channel on the 4-hour timeframe, between the EMA200 and EMA50. If it continues to rise and reaches the supply limits indicated above, it can be sold with a risk-adjusted reward.
The US employment report for June was released, recording only 57,000 new jobs, much weaker than market estimates. In addition, the downward revision of the previous months' data also showed that the US labor market growth trend has slowed significantly and there are signs of gradual weakening.
The release of these data caused market participants to postpone the possible next interest rate hike by the Federal Reserve (Fed) to December. At the same time, the US dollar index came under pressure and fell. Nevertheless, inflation concerns stemming from the Iran war remain and continue to be one of the most important factors influencing monetary policymakers' decision-making.
The US employment report for June was released, recording only 57,000 new jobs, much weaker than market estimates. In addition, the downward revision of the previous months' data also showed that the US labor market growth trend has slowed significantly and there are signs of gradual weakening.
The release of these data caused market participants to postpone the possible next interest rate hike by the Federal Reserve (Fed) to December. At the same time, the US dollar index came under pressure and fell. Nevertheless, inflation concerns stemming from the Iran war remain and continue to be one of the most important factors influencing monetary policymakers' decision-making.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.