FxWirePro: XAG/USD hovers around $15.80 mark, bias remains slightly bullish
XAG/USD is currently trading around $15.80 marks. It made intraday high at $15.83 and low at $15.74 levels. Intraday bias remains bullish till the time pair holds key support at $15.74 levels. A daily close above $15.75 …
It made intraday high at $15.83 and low at $15.74 levels.
Intraday bias remains bullish till the time pair holds key support at $15.74 levels.
A daily close above $15.75 will test key resistances at $15.88/$15.95/$16.02/$16.19/$16.25/$16.32/$16.46/$16.62/$16.76 marks respectively.
On the other side, a daily close below $15.75 will take the parity down towards key supports at $15.54/$15.32/$15.01 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.
We prefer to go long on XAG/USD around $15.80 with stop loss at $15.74 and target of $15.88/$16.02.
