Silver weekly special report based On 1.00 Lot Calculation:
- EVENT (WEDNESDAY, SEPTEMBER 13 AT 13:30 GMT+1): U.S. INFLATION (AUGUST). The US Inflation is now down from 9.1% in summer 2022 to July’s 3.2%. Core Inflation, on the other hand, fell to 4.7% in July from previous 4.8%.
- EVENT (WEDNESDAY, SEPTEMBER 20 AT 19:00 GMT+1): U.S. FEDERAL RESERVE INTEREST RATE DECISION. Federal Reserve raised interest rates to 5.50% last time (Its highest in 22 years). Fed Chair Powell said that they will go meeting by meeting depending on data to see if more hikes will be needed. He kept the door open, though, for a stop in September. According to the CMEGROUP.COM*, the markets assign 93.0%** of probability to an outcome that will see no changes in interest rates in September.
- ANALYSIS: The soft data from the US and cooling inflation in the country fueled bets on the end of monetary tightening by the Fed. Overall, solid industrial demand and tight supply continued to provide support for the commodity, while efforts to curb carbon emissions sped up the development of solar panel technologies that need higher conduction needs.
- PAST SILVER PRICE ACTION: Silver reached $30.00 in 2021.
Silver, September 8th, 2023
Current Price: 23.00
|
SILVER |
Weekly |
|
Trend direction |
|
|
26.00 |
|
|
25.00 |
|
|
24.00 |
|
|
22.00 |
|
|
21.10 |
|
|
20.20 |
Example of calculation based on weekly trend direction for 1.00 Lot
|
SILVER |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
30,000.00 |
20,000.00 |
10,000.00 |
-10,000.00 |
-19,000.00 |
-28,000.00 |
|
Profit or loss in €2 |
27,993.17 |
18,662.11 |
9,331.06 |
-9,331.06 |
-17,729.01 |
-26,126.96 |
|
Profit or loss in £2 |
24,026.33 |
16,017.56 |
8,008.78 |
-8,008.78 |
-15,216.68 |
-22,424.58 |
|
Profit or loss in C$2 |
40,994.85 |
27,329.90 |
13,664.95 |
-13,664.95 |
-25,963.41 |
-38,261.86 |
1. 1.00 lot is equivalent of 10000 units
2. Calculations for exchange rate used as of 10:30 (GMT+1) 08/09/2023
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 details.