22 July 2025,03:19
Chart The Market
22 July 2025, 03:19
XAGUSD, H4:
Silver has extended its bullish run, gaining more than 37% since its April low and now trading at its highest level in over a decade. The sustained rally has been supported by strengthening momentum, reinforcing a bullish bias for the precious metal.
Both short- and long-term moving averages are diverging in a classic uptrend formation, underlining the strength of the ongoing rally. Meanwhile, momentum indicators remain supportive— the Relative Strength Index (RSI) is holding in elevated territory, and the MACD continues to trend higher, confirming the persistence of bullish momentum.
As silver continues to chart multi-year highs, technical signals point to the potential for further upside, barring a sharp shift in macro sentiment or profit-taking.
Resistance Levels: 39.40, 41.15
Support Levels: 37.00, 35.50
EURGBP, H4
EUR/GBP is attempting to break out of a short-term downtrend channel while maintaining its position above an established uptrend support, offering a mixed but potentially bullish technical outlook. Despite forming a series of lower highs recently, the pair’s ability to stay above support levels hints at underlying resilience.
A decisive break above the 0.8675 resistance—its previous high—would signal a continuation of the broader bullish trend. However, momentum indicators paint a cautious picture. While the Relative Strength Index (RSI) hovers near the neutral 50 level, the MACD is showing signs of bearish divergence, forming lower highs as the price edges higher.
With price action skewed toward the upside but momentum indicators flashing early warning signs, traders should stay vigilant for possible technical pullbacks before a confirmed breakout unfolds.
Resistance Levels: 0.8717, 0.8800
Support Levels: 0.8650, 0.8560
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