On the monthly chart the pair XAG/USD has reached strong resistance level of 16.10 (ЕМА200). At the same time fundamental data gives ground for breakout of this level and further rise in the pair. On all the charts from 4-hour to monthly the indicators OsMA and Stochastic give signals for long positions. In case of this scenario the nearest targets will be the levels of 17.10, 17.80 and 19.00. Otherwise, the price will break out the level 15.25 (ЕМА200 on 4-hour chart), 15.00 (ЕМА144 on the daily chart), 14.75 (lower line of the ascending channel on the daily chart) and go down to the lows of the year at the levels of 14.00 and 13.65. However, this scenario is unlikely due to the measures aimed at monetary policy easing by the US Fed and some other central banks

Support levels: 15.60, 15.40, 15.25, 15.00 and 14.75.
Resistance levels: 16.00, 16.10, 17.10, 17.80 and 18.00.

Trading tips

Sell Stop: 15.65. Stop-Loss: 15.85. Take-Profit: 15.25, 15.00 and 14.75.
Buy Stop: 16.20. Stop-Loss: 15.75. Take-Profit: 17.10, 17.80, 18.00 and 19.00.

XAG/USD: upward impetus

XAG/USD: upward impetus

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback