Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: XAG/USD hits fresh 3-week low at $17.04 mark, stay bearish

  • XAG/USD is currently trading around $17.15 marks.
     
  • It made intraday high at $17.21 and low at $17.11 levels.
     
  • Intraday bias remains slightly bearish till the time pair holds key resistance at $17.22 mark.
     
  • A daily close above $17.22 will test key resistances at $17.40, $17.52, $16.67, $17.82, $17.95, $18.12, $18.24, $18.39, $18.52 and $18.63 marks respectively.
     
  • On the other side, a daily close below $17.22 will take the parity down towards key supports at $17.01/$16.90/$16.76/$16.57 marks respectively.
     
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to take short position in XAG/USD around $17.16, stop loss $17.28 and target of $17.01/$16.90.

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.