FxWirePro: XAG/USD fails to break key support at $15.75 mark, bias turns bullish again
XAG/USD is currently trading around $15.91 marks. It made intraday high at $15.93 and low at $15.76 levels. Intraday bias remains bullish till the time pair holds key support at $15.75 mark. A daily close above $15.83 wi…
It made intraday high at $15.93 and low at $15.76 levels.
Intraday bias remains bullish till the time pair holds key support at $15.75 mark.
A daily close above $15.83 will test key resistances at $15.92, $16.15, $16.27, $16.40, $16.55, $16.65, $16.90, $17.12, $17.23, $17.33 and $17.54 marks respectively.
On the other side, a daily close below $15.83 will take the parity down towards key supports at $15.75, $15.47 and $15.32 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 $15.88, stop loss $15.75 and target of $16.15.
