Here are the key factors to keep in mind today for Silver trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8.
UK Rightmove House Prices: UK Rightmove House Prices for September decreased by 0.2% monthly and increased by 0.2% annualized. Forex traders can compare this to UK Rightmove House Prices for August which decreased by 1.0% monthly and which increased by 1.2% annualized.
Chinese Retail Sales: Chinese Retail Sales for August increased by 7.5% annualized. Economists predicted an increase of 7.9% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 7.6% annualized.
Chinese Industrial Production: Chinese Industrial Production for August increased by 4.4% annualized. Economists predicted an increase of 5.2% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 4.8% annualized.
Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 5.5% annualized. Economists predicted an increase of 5.7% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 5.7% annualized.
Chinese Property Investment: Chinese Property Investment for August increased by 10.5% annualized. Forex traders can compare this to Chinese Property Investment for July which increased by 10.6% annualized.
Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for August was reported at 5.2%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for July which was reported at 5.3%.
Final Italian CPI: The Final Italian CPI for August increased by 0.4% monthly and 0.4% annualized. Economists predicted an increase of 0.5% and of 0.5%. Forex traders can compare this to the Italian CPI for July which increased by 0.5% monthly and by 0.5% annualized. The Final Italian Harmonized Italian CPI for August was reported flat at 0.0% monthly and increased by 0.5% annualized. Economists predicted a decrease of 1.7% and an increase of 0.5%. Forex traders can compare this to the Italian Harmonized Italian CPI for July which decreased by 1.8% monthly and which increased by 0.5% annualized.
US Empire Manufacturing Index: The US Empire Manufacturing Index for September is predicted at 4.0. Forex traders can compare this to the US Empire Manufacturing Index for August which was reported at 4.8.
Should price action for Silver remain inside the or breakout above the 17.400 to 18.150 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 17.800
Take Profit Zone: 19.600 – 20.000
Stop Loss Level: 17.200
Should price action for Silver breakdown below 17.400 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 17.100
Take Profit Zone: 15.900 – 16.500
Stop Loss Level: 17.400
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8.
UK Rightmove House Prices: UK Rightmove House Prices for September decreased by 0.2% monthly and increased by 0.2% annualized. Forex traders can compare this to UK Rightmove House Prices for August which decreased by 1.0% monthly and which increased by 1.2% annualized.
Chinese Retail Sales: Chinese Retail Sales for August increased by 7.5% annualized. Economists predicted an increase of 7.9% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 7.6% annualized.
Chinese Industrial Production: Chinese Industrial Production for August increased by 4.4% annualized. Economists predicted an increase of 5.2% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 4.8% annualized.
Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 5.5% annualized. Economists predicted an increase of 5.7% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 5.7% annualized.
Chinese Property Investment: Chinese Property Investment for August increased by 10.5% annualized. Forex traders can compare this to Chinese Property Investment for July which increased by 10.6% annualized.
Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for August was reported at 5.2%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for July which was reported at 5.3%.
Final Italian CPI: The Final Italian CPI for August increased by 0.4% monthly and 0.4% annualized. Economists predicted an increase of 0.5% and of 0.5%. Forex traders can compare this to the Italian CPI for July which increased by 0.5% monthly and by 0.5% annualized. The Final Italian Harmonized Italian CPI for August was reported flat at 0.0% monthly and increased by 0.5% annualized. Economists predicted a decrease of 1.7% and an increase of 0.5%. Forex traders can compare this to the Italian Harmonized Italian CPI for July which decreased by 1.8% monthly and which increased by 0.5% annualized.
US Empire Manufacturing Index: The US Empire Manufacturing Index for September is predicted at 4.0. Forex traders can compare this to the US Empire Manufacturing Index for August which was reported at 4.8.
Should price action for Silver remain inside the or breakout above the 17.400 to 18.150 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 17.800
Take Profit Zone: 19.600 – 20.000
Stop Loss Level: 17.200
Should price action for Silver breakdown below 17.400 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 17.100
Take Profit Zone: 15.900 – 16.500
Stop Loss Level: 17.400