FxWirePro: XAG/USD exhibits range bound movement, bias remains neutral
XAG/USD is currently trading around $18.28 marks. It made intraday high at $18.34 and low at $18.21 levels. Intraday bias remains neutral till the time pair holds key support at $18.20 mark. A daily close above $18.28 wi…
It made intraday high at $18.34 and low at $18.21 levels.
Intraday bias remains neutral till the time pair holds key support at $18.20 mark.
A daily close above $18.28 will test key resistances at $18.45/$18.88/$18.97 marks respectively.
On the other side, a daily close below $18.28 will take the parity down towards key supports at $18.07/$17.97/$17.80/$17.68/$17.51/$17.44/$17.38/$17.22 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 go long on XAG/USD only above $18.32, stop loss at $18.20 and target of $18.45/$18.68.
