FX.co ★ Silver Technical Analysis for April 03, 2020

Today the US will release a report of major importance - the unemployment rate and nonfarm payrolls. As we know, since the coronavirus outbreak the US announced the lockdown for some state such New York, California, etc. So, unemployment in the US is set to increase rapidly. From the technical view, according to the 4-hour chart, Silver is trading under a Market Maker Buy Model. The metal will try to reach the nearest liquidity pool at 14.670 as long as Silver does not retrace and closes below 13.770-13.634. Afterwards, the 14.670 level is likely to be hit soon.

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