SILVER / US DOLLARXAGUSD
Online chart of the Silver US dollar exchange rate on Forex
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Silver trading in the foreign exchange market today takes the 2nd place-immediately after gold. Volatility on it has fallen slightly, but for short- term speculative transactions, this asset still remains attractive.
Silver correlates very well with gold. f you open an online chart and apply a comparison tool, you will notice a positive correlation with gold.
Classic strategies are used for investing in white metal. The asset is quite complex in its forecast since it is impossible to take into account the impact of all factors on the value of silver against the US dollar in the future.
However, using the online chart of the XAGUSD exchange rate, you can roughly estimate the overall interest in the pair, and in general in precious metals on Forex in Belarus. The graph shows the relative number of short and long positions, bringing them to the average value. It can be used to determine the direction of the trend, and then adjust the main trading system. Low volatility for XAG allows you to reduce risks when trading on correlation pullbacks. You can also track changes in trading volume on higher timeframes on the chart.
The main factors that affect the pair are pricing and reduced demand for other assets. Usually, negative factors on the currency or stock market cause investors to invest in precious metals.
To effectively track price changes for XAGUSD, you can use the Forex economic calendar. To do this, you need to leave only news on the US dollar — its weakness will always be reflected in the pair’s quotes.