FxWirePro: XAG/USD trades in narrow range, good to buy on dips
XAG/USD is currently trading around $17.93 marks. It made intraday high at $17.97 and low at $17.89 levels. Intraday bias remains bullish till the time pair holds key support at $17.72 mark. A daily close above $17.92 wi…
It made intraday high at $17.97 and low at $17.89 levels.
Intraday bias remains bullish till the time pair holds key support at $17.72 mark.
A daily close above $17.92 will test key resistances at $18.00/$18.08/$18.19/$18.32/$18.46/$18.72/$18.97 marks respectively.
On the other side, a daily close below $17.92 will take the parity down towards key supports at $17.72/$17.51/$17.42/$17.22/$17.09/$16.87/$16.65 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 $17.90 with stop loss at $17.72 and target of $18.08/$18.22.
