Silver stays bullish

Since late June silver is behaving in a line with expectations, though is facing some difficulties to set forceful direction upwards.

Moving on up is quite sure, but we should not disregard the last week swing, which might be read as a prolonged consolidation period. 

Anyway, silver has not lost track of time as today bulls are with elevated spirit. The key support, located at $20.09 remained below. The intraday high was marked at $20.65 and the low at $20.22. Closing above today’s high will push silver to test the next resistance at $20.78. On the other hand, a daily close below $20.09 will drag silver to support zone $19.96 and $19.88. 

In a very short-term the bias remains bullish, having in mind the 20-days, 30-days and 55-days EMA, which are highlighting the upward movement.

EUR/USD

On Tuesday session EUR/USD tried to push higher, topped at $1.1111, but closed lower at $1.1064.
Short-term expectations seem to be neutral. But strong resistance is seen at $1.12 (200-day EMA) and as long as the pair is staying below it, a further decline towards support levels at $1.09 and $1.07 will most likely occur.
On the other hand if observe the weekly development, it is clearly seen an upward movement from the open price at $1.1010 towards the 50% Fibonacci retracement at $1.1167 and even to the more important level at $1.1223 (61.80%).  We should keep in mind that the macro agenda for tomorrow offers CPI data release and the pair might head to the topside.
Anyway tomorrow’s closing price will be fuelled by additional volatility due to the month/Q2 end match.