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Silver Price Forecast: XAG/USD Fundamentals Provide Hope to the Bulls


Silver Price Forecast: XAG/USD Fundamentals Provide Hope to the Bulls
Silver (XAG/USD) outlook:
CCI suggests that Silver may be overbought
EMA provides additional resistance
Silver Advances as Dollar Takes Strain
The ongoing battle to contain the spread of the Coronavirus in the US, combined with dismal retail sales data, weighed heavy on the USD ahead of the FOMC decision, providing a catalyst for price action.
Visit the DailyFX Educational Center to discover why news events are Key to Forex Fundamental Analysis
However, the bullish momentum prevailed after Federal Reserve Chair, Jerome Powell announced the Fed’s commitment to maintain near zero interest rates whilst continuing to provide Quantitative Easing until there is “substantial further progress” in the US economic recovery. The ‘wait and see’ approach appeared to have increased the demand for Gold, Silver and other safe-haven assets as the size of the fiscal stimulus package remains ....

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