• FxWirePro: Silver rises gradually against U.S. Dollar, U.S. CPI data in focus

    Source: FxWire Pro - Technicals / 12 Sep 2019 05:41:54   America/New_York

    • XAG/USD is currently trading around $18.19 marks.
       
    • It made intraday high at $18.26 and low at $17.98 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at $17.94 mark.
       
    • A daily close above $18.08 will test key resistances at $18.32, $18.76, $19.07,  $19.27, $19.76, $19.98, and $20.10 marks respectively.
       
    • On the other side, a daily close below $17.94 will take the parity down towards key supports at $17.76, $17.60 and $17.40 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

    We prefer to take long position on XAG/USD around $18.15, stop loss at $17.98 and target of $18.32/$18.47.

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