FxWirePro: XAG/USD hits fresh 3-week high at $16.06 mark, downside limited
XAG/USD is currently trading around $15.99 marks. It made intraday high at $16.06 and low at $15.94 levels. Intraday bias remains bullish till the time pair holds key support at $15.80 mark. A daily close above $15.97 wi…
It made intraday high at $16.06 and low at $15.94 levels.
Intraday bias remains bullish till the time pair holds key support at $15.80 mark.
A daily close above $15.97 will test key resistances at $16.07, $16.15, $16.40 and $16.62 marks respectively.
On the other side, a daily close below $15.97 will take the parity down towards key supports at $15.80, $15.62, $15.47, $15.40, $15.32 and $15.22 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 take long position on XAG/USD around $15.95, stop loss $15.82 and target of $16.15/$16.27
