FxWirePro: XAG/USD hovers around $17.70 mark, stay bullish only above $17.75 mark
XAG/USD is currently trading around $17.68 marks. It made intraday high at $17.75 and low at $17.61 levels. Intraday bias remains neutral till the time pair holds key resistance at $17.75 mark. A daily close above $17.63…
It made intraday high at $17.75 and low at $17.61 levels.
Intraday bias remains neutral till the time pair holds key resistance at $17.75 mark.
A daily close above $17.63 will test key resistances at $17.75, $17.98, $18.07, $18.18 marks respectively.
On the other side, a daily close below $17.63 will take the parity down towards key supports at $17.40, $17.02, $16.70, $16.57, $16.07, $15.90, $15.70, $15.47 and $15.40 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 $17.75, stop loss at $16.50 and target of $17.98.
