CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
empty
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Stay
Proceed
Open Account
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
For Traders
Analytical Reviews
Wave analysis

07.05.202106:10 Forex Analysis & Reviews: Elliott wave analysis of Silver for May 7, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 07.05.2021 analysis

Silver is on the move again, after a short consolidation period silver is set to move higher towards the next minor resistance at 28.32 and then the key-resistance at 30.09 and a break above here will open up the upside for a rally back to the all-time high at 49.83.

Ideally minor support at 26.09 should act as a floor, but a break below here will call for a dip to 24.78 before renewed upside pressure.

Trading recommendation:

Buy silver and place you stop at 26.05

Torben Melsted
Analytical expert of InstaForex
© 2007-2025
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




All Analytics
Fundamental analysis
XAU/USD. Analysis and Forecast Gold is attracting some sellers for the second day in a row, despite the absence of any clear fundamental catalyst for a decline. Most likely, this is due to trading
Irina Yanina
11:50 2025-04-04 +02:00
1345
Stock Markets
Stocks slide sharply as broad tariffs raise recession risk S&P 500 US equities plunged on Thursday as President Donald Trump's sweeping new tariffs triggered a sharp sell-off and reignited fears of a global recession. The Dow fell by 4%
Jozef Kovach
11:14 2025-04-04 +02:00
1150
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin

Official partners of InstaForex

The future is coming - InstaForex and Dragon Racing
The team of Formula - E
Be always the first with InstaForex Loprais Team
Official participant of the Dakar rally
Team up with us -
win with InstaForex and Zvolen!
IIHF Continental Cup winner in 2005

Trading Instruments

The best instruments for successful online Forex trading
MetaTrader Trading Platform
Charts on-line
Forex Analysis
Forex Demo Account
Trader calculator
Forex Indicators

Top analytics

Relevance up to 23:00 2025-04-04 UTC--4
EUR/USD Forecast for April 4, 2025
05:34 2025-04-04
Technical analysis
Relevance up to 23:00 2025-04-04 UTC--4
GBP/USD Forecast for April 4, 2025
05:34 2025-04-04
Technical analysis
Relevance up to 02:00 2025-04-05 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on April 4. Review of Yesterday's Forex Trades
09:04 2025-04-04
Forecast
Relevance up to 20:00 2025-04-04 UTC--4
Trading Recommendations and Analysis for EUR/USD on April 4: New Panic in the Market
06:06 2025-04-04
Trading plan
Relevance up to 03:00 2025-04-05 UTC--4
GBP/USD. April 4th. What Can the Dollar Count On?
10:21 2025-04-04
Technical analysis
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Proceed
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget

Turn "Do Not Track" off

 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.