Silver Price Analysis: Highs locked in, focus is on the downside on break of $22.9600

Silver bears are taking on the bullish correction that has so far made a 50% mean reversion of the prior bearish impulse.
A downside extension towards $22.7250, $22.6070 and $22.4655 could be on the cards.

Ross J Burland FXStreet

Silver has been on the back foot due to a rise in the US Dollar following hawkish outcomes from the central bank meetings this week. XAU/USD bears are on the prowl and have already tested a key area of the support structure. If the bears can fend off the bull's correction below $23.2070, then there will be near-term prospects of a downside continuation. Analysts at TD Securities argued that a break below the $22.50/oz mark is needed for trend followers to flatten out their remaining length.

Silver H1 charts

Zoomed in:

The bears are taking on the bullish correction that has so far made a 50% mean reversion of the prior bearish impulse near $23.2070. Should the bears commit, then a downside extension towards $22.7250, $22.6070 and $22.4655 will be on the cards.

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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.