Silver bulls are up against a key daily resistance

Silver is pressed up against a daily dynamic trendline resistance.
Bulls rely on hourly structure to push higher.

Ross J Burland FXStreet

Silver is down some 0.4% and topping out in the final part of the US session after a move up from today's lows of $20.674. The precious metal made a high of $21.015 while traders balance the risks associated with the Federal Reserve's interest rate policy and sentiment.

Meanwhile, from a technical outlook, the white metal is up against major resistance as the following illustrates:

The daily charts see the metal pressed up against a daily dynamic trendline resistance as the price corrects after breaching the horizontal structure. If the bears commit around here, there will be prospects of a downside continuation:

As per the hourly chart below, however, the price has broken up and there are prospects of a near term bullish continuation:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

AUD/USD holds above 0.6950 as bullish USD caps gains

AUD/USD edges lower during the Asian session on Tuesday, stalling a two-day recovery move from a two-month low, touched last week. An extended rout in the fixed income market keeps US bond yields elevated near multi-year highs. This, along with geopolitical uncertainties, helps the US Dollar retain its bullish tone despite receding October Fed hike bets. However, expectations for another RBA rate hike this month could act as a tailwind for the Aussie.

USD/JPY rises back above 158.00 despite hawkish BoJ outlook

USD/JPY rises back above 158.00 in the early European morning on Tuesday. The pair strengthens as the Japanese Yen fails to find any inspiration from hawkish BoJ expectations and looming intervention risks. Meanwhile, geopolitical uncertainty and elevated US bond yields keep the US Dollar near its YTD high despite receding October Fed hike bets. This, in turn, helps the pair stay supported.

Gold trades with modest gains; still below $4,200

Gold builds on Monday’s marginal bounce, although it struggles to reclaim the key $4,200 mark per troy ounce on Tuesday. The yellow metal’s advance comes on the back of the fresh downside momentum in the US Dollar in tandem with retreating US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP bulls battle to restart uptrend amid ETF outflows

Bitcoin upholds a robust bullish outlook, trading at $85,837 on Tuesday as sellers push to regain control over the trend. Altcoins, meanwhile, reflect Bitcoin’s ranging action, with Ethereum trading sideways above $2,700 and Ripple hovering around the pivotal $1.50 level.

Japanese Yen nears 158.00: Two analysts agree it's bullish, and disagree on how far the breakout goes

The JPY is drifting near 158.00 against the USD ahead of a busy week of Japanese data and a still-unclear BoJ timetable. The two most recent FXStreet analyses agree on the direction, but they disagree on the target and the mechanism.

Eurozone inflation just hit 3.8%, its highest in three years. This chart shows why the ECB can’t simply hike its way out

The ECB would normally have a relatively straightforward answer to inflation running almost twice its target: raise interest rates. But these are not normal circumstances. This time, the bond market is already doing part of the tightening for it, leaving the ECB facing an increasingly difficult dilemma.