FxWirePro: XAG/USD moves in stiff boundaries, downside limited
XAG/USD is currently trading around $17.49 marks. It made intraday high at $17.57 and low at $17.46 levels. Intraday bias remains neutral till the time pair moves in stiff boundaries from $17.32 to $17.72 mark. A daily c…
It made intraday high at $17.57 and low at $17.46 levels.
Intraday bias remains neutral till the time pair moves in stiff boundaries from $17.32 to $17.72 mark.
A daily close above $17.72 will test key resistances at $17.87, $18.02, $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
On the other side, a daily close below $17.32 will take the parity down towards key supports at $17.17, $16.97, $16.72, $16.40 and $16.17 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 $17.47, stop loss at $17.38 and target of $17.87.
