FxWirePro: XAG/USD trades in narrow range, stay bullish only above $17.37 mark
XAG/USD is currently trading around $17.31 marks. It made intraday high at $17.37 and low at $17.29 levels. Intraday bias remains neutral till the time pair holds key resistance at $17.37 mark. A daily close above $17.37…
It made intraday high at $17.37 and low at $17.29 levels.
Intraday bias remains neutral till the time pair holds key resistance at $17.37 mark.
A daily close above $17.37 will test key resistances at $17.48/$17.63/$17.72/$17.98 marks respectively.
On the other side, a daily close below $17.37 will take the parity down towards key supports at $17.11/$17.01/$16.88/$16.72/$16.40/$16.28/$16.14 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to go long on XAG/USD only above $17.37 with stop loss at $17.11 and target of $17.48/$17.63.
