Fxwirepro: Xag/usd Remains Well supported Below $17.70 Mark, Consistent Close Above Targets $17.98

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• XAG/USD is currently trading around $17.67 marks.
   
• It made intraday high at $17.69 and low at $17.62 levels.
   
• Intraday bias remains neutral till the time pair holds key resistance at $17.72 mark.
   
• A daily close above $17.68 will test key resistances at $17.72/$17.98/$18.24 marks respectively.
   
• On the other side, a daily close below $17.68 will take the parity down towards key supports at $17.48/$17.40/$17.32/$17.11/$17.00/$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 short on XAG/USD around $17.68 with stop loss at $17.75 and target of $17.58/$17.48.

The material has been provided by InstaForex Company – www.instaforex.com

June 07, 2017 at 01:29PM

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