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FxWirePro: Go long on XAG/USD only above $17.32 with stop loss at $17.11 and target of $17.47

  • XAG/USD is currently trading around $17.30 marks.
     
  • It made intraday high at $17.34 and low at $17.12 levels.
     
  • Intraday bias remains bullish till the time pair holds initial support at $17.11 marks. 
     
  • A daily close below $17.11 will take the parity down towards key supports at $17.06, 16.95 and $16.88 marks respectively.
     
  • On the other side, a sustained close above $17.25 tests key resistances at $17.35, $17.45 and $17.80 marks respectively.
     
  • Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms bullish trend.

We prefer to take long position in XAG/USD only above $17.32 with stop loss at $17.11 and target $17.47/$17.80 marks.

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