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How to Trade Metals During U.S. Session?; July 12, 2021

How to trade metals during U.S. Session?

Today’s U.S. session is empty as no key indicators are scheduled to release but FOMC member Williams speech is scheduled at 1330 GMT/1900 IST, which may give volatility to the FX markets. Williams is due to speak about inflation at a webinar co-hosted by Bank of Israel and Centre for Economic Policy Research.

XAU/USD (GOLD):

Technical View:

  • The gold starts a new week on a lower note and hovers around $1,800 mark.
  • The pair made intraday high at $1,810 and low at $1,798 mark.
  • Currently, a day chart and H1 chart with triple EMA suggests down trend for the time being.
  • A sustained close above $1,809 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,794 will check further supports.
SUPPORTS RESISTANCES
$1,789 $1,809
$1,784 $1,815
$1,778 $1,821
$1,772 $1,827
$1,765 $1,832

XAG/USD (SILVER):

  • Silver remains volatile on Monday and consolidates around $26.00 mark.
  • The pair made intraday high at $26.28 and low at $25.87 mark.
  • A day as well as H1 chart suggests down trend for the time being.
  • A sustained close above $26.18 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $25.82 on H1 Chart will check further downside supports too.
SUPPORTS RESISTANCES
$25.76 $26.18
$25.71 $26.24
$25.67 $26.31
$25.61 $26.36
$25.52 $26.40

Take a look and do trade wisely!
Good Luck

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