FxWirePro: Silver trades flat ahead of Fed Chair Powell’s testimony
XAG/USD is currently trading around $17.72 marks. It made intraday high at $17.81 and low at $17.71 levels. Intraday bias remains neutral till the time pair holds key resistance at $17.82 mark. A daily close above $17.81…
It made intraday high at $17.81 and low at $17.71 levels.
Intraday bias remains neutral till the time pair holds key resistance at $17.82 mark.
A daily close above $17.81 will test key resistances at $17.90, $18.08, $18.22, $18.40, $18.87, $18.98, $19.08 and $19.24 marks respectively.
On the other side, a daily close below $17.68 will take the parity down towards key supports at $17.57, $17.48, $17.32, $17.17 and $16.98 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to take long position on XAG/USD only above $17.82, stop loss at $17.68 and target of $17.90/$18.08.
