FxWirePro: XAG/USD remains well supported above $18.00 mark, stay long
XAG/USD is currently trading around $18.13 marks. It made intraday high at $18.19 and low at $18.07 levels. Intraday bias remains bullish till the time pair holds key support at $17.78 mark. A daily close above $18.09 wi…
It made intraday high at $18.19 and low at $18.07 levels.
Intraday bias remains bullish till the time pair holds key support at $17.78 mark.
A daily close above $18.09 will test key resistances at $18.24, $18.39, $18.52 and $18.63 marks respectively.
On the other side, a daily close below $18.09 will take the parity down towards key supports at $18.01/$17.78/$17.65/$17.54/$17.42/$17.35/$17.26/$17.18/$17.01 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 go long on XAG/USD around $18.05 with stop loss at $17.78 and target of $18.52.
