Silver – Melting Down Against Major Currencies |KOL Analysis•Jasper Njuguna

Of recent trading sessions, the green buck and the gold have been making good solid gains but that cannot be said of the silver metal as it is selling off against the major currencies and that is the; Euro, the American dollar, the Australian dollar, the British pound, the Japanese yen and Swiss franc

The overall market bias sentiment is strongly bearish, price has shot down past the main level of low handle price range for the trading month of August and looking at the assigned charts posted below on the daily charts, we should expect long extended sell off as market participants are looking to pivot around the 200 MA.

Xag/Usd daily chart;

Xag/Eur daily chart;

Of course, ones discretion and risk management is advised.

Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.

Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa

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