Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: XAG/USD hits fresh weekly low at $16.34 mark, sustained close below $16.37 requires for downside rally

  • XAG/USD is currently trading around $16.42 marks.
     
  • It made intraday high at $16.43 and low at $16.34 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at $16.55 mark
    .
  • A daily close above $16.37 will test key resistances at $16.55, $16.68, $16.75, $16.82, $16.96, $17.08, $17.22, $17.40 and $17.52 marks respectively.
     
  • On the other side, a daily close below $16.37 will take the parity down towards key supports at $16.30, $16.18, $16.08, $15.90 and $15.68 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 take short position in XAG/USD  around $16.45, stop loss $16.57 and target of $16.30/$16.18.

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.