FxWirePro: Go long on XAG/USD around $15.52 with stop loss at $15.40 and target of $15.85
XAG/USD is currently trading around $15.52 marks. It made intraday high at $15.64 and low at $15.48 levels. Intraday bias remains slightly bullish till the time pair holds key support at $15.48 marks. A daily close above…
It made intraday high at $15.64 and low at $15.48 levels.
Intraday bias remains slightly bullish till the time pair holds key support at $15.48 marks.
A daily close above $15.60 will test key resistances at $15.65, $15.85, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
On the other side, a daily close below $15.60 will take the parity down towards key supports at $15.48. $15.30, $15.15, $15.02 and $14.87 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take long position on XAG/USD around $15.52, stop loss $15.40 and target of $15.85.
