FxWirePro: Go long on XAG/USD around $16.70 with stop loss at $16.62 and target of $17.08

• XAG/USD is currently trading around $16.71 marks.
   
• It made intraday high at $16.72 and low at $16.63 levels.
   
• Intraday bias remains bullish till the time pair holds key support at $16.48 mark.
   
• A daily close above $16.67 will test key resistances at $16.82, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
   
• On the other side, a daily close below $16.67 will take the parity down towards key supports at $16.42, $16.22, $16.08, $15.90 and $15.68 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 in XAG/USD  around $16.70, stop loss $16.62 and target of $16.96/$17.08.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest