FxWirePro: XAG/USD moves in stiff boundaries, good to buy on dips
XAG/USD is currently trading around $17.04 marks. It made intraday high at $17.11 and low at $17.04 levels. Intraday bias remains slightly bearish till the time pair holds immediate resistance at $17.11 mark. A daily clo…
It made intraday high at $17.11 and low at $17.04 levels.
Intraday bias remains slightly bearish till the time pair holds immediate resistance at $17.11 mark.
A daily close above $17.11 will test key resistances at $17.22, $17.40 and $17.52 marks respectively.
On the other side, a daily close below $17.11 will take the parity down towards key supports at $16.98, $16.87, $16.70, $16.55, $16.48, $16.36, $16.28, $16.15 and $16.02 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 in XAG/USD around $17.00, stop loss $16.89 and target of $17.11/$17.22 mark.
