• FxWirePro: Silver falls noticeably in European hours, hits lowest level since July 2017

    Source: FxWire Pro - Technicals / 18 Jul 2018 05:14:24   America/New_York

    • XAG/USD is currently trading around $15.40 marks.
       
    • It made intraday high at $15.59 and low at $15.37 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at $15.65 mark.
       
    • A daily close above $15.54 will test key resistances at $15.65, $15.89, $15.96, $16.08, $16.20, $16.40 and $16.55 marks respectively.
       
    • On the other side, a daily close below $15.54 will take the parity down towards key supports at $15.32, $15.18 and $15.02 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 on XAG/USD around $15.45, stop loss $15.60 and target of $15.18.

Share on,