SILVER weekly special report based On 1.00 Lot Calculation:
- US BANKING CRISIS: THE COLLAPSE OF SILICON VALLEY BANK. Increased fears that the other banks in the US are in the same position reduced expectations for FED interest rate hike. After the collapse of Silicon Valley Bank (and Silvergate Bank before), there is a risk of bank runs that could push the US economy into recession quickly.
The Silicon Valley Bank was the 16th largest bank in the US with more than 175 billion dollars in deposits. - EVENT (Tuesday, March 14 at 12:30 GMT): US INFLATION FOR FEBRUARY (EXPECTED: 6%). US INFLATION fell in January to 6.4% from 6.5% (EXPECTED: 6.2%). The US Inflation is now down from 9.1% in summer 2022, to January’s 6.4%. Core Inflation came down to 5.6% from previous 5.7%. February data is expected to show a decline to 5.5%, according to Bloomberg.
- EVENT: U.S. Federal Reserve Meeting and Interest Rate Decision (March 22nd, 2023, 19:00 GMT) - The Federal Open Market Committee(FOMC) will complete their 2-day meeting on March 22nd and announce changes to the Federal Funds Rate target.
- GOLDMAN SACHS DOES NOT EXPECT AN INTEREST RATE HIKE BY THE FED AT THE NEXT MEETING ON MARCH 22. In light of recent stress in the banking system, Goldman Sachs no longer expects the FED to deliver a rate hike at its March 22 meeting with considerable uncertainty about the path beyond March.
Silver, March 14, 2023
Current Price:21.70
|
Silver |
Weekly |
|
Trend direction |
|
|
25.00 |
|
|
23.90 |
|
|
22.90 |
|
|
20.60 |
|
|
19.60 |
|
|
18.50 |
Example of calculation based on weekly trend direction for 1 Lot1
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
33,000.00 |
22,000.00 |
12,000.00 |
-11,000.00 |
-21,000.00 |
-32,000.00 |
|
Profit or loss in €2 |
33,132.53 |
22,088.35 |
12,048.19 |
-11,044.18 |
-21,084.34 |
-32,128.51 |
|
Profit or loss in £2 |
29,023.75 |
19,349.16 |
10,554.09 |
-9,674.58 |
-18,469.66 |
-28,144.24 |
|
Profit or loss in C$2 |
43,857.00 |
29,238.00 |
15,948.00 |
-14,619.00 |
-27,909.00 |
-42,528.00 |
1. 1.00 lot is equivalent of 10,000 units
2. Calculations for exchange rate used as of 9:30 (GMT) 14/3/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
- You may wish to consider closing your position in profit, even if it is lower than suggested one
- Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more detail