• FxWirePro: Silver rises gradually against U.S. Dollar, U.S. ISM manufacturing PMI data in focus

    Source: FxWire Pro - Technicals / 03 Sep 2019 04:05:52   America/New_York

    • XAG/USD is currently trading around $18.47 marks.
       
    • It made intraday high at $18.49 and low at $18.31 levels.
       
    • Intraday bias remains bullish till the time pair holds key support at $18.02 mark.
       
    • A daily close above $18.44 will test key resistances at $18.61, $18.78 and $19.02 marks respectively.
       
    • On the other side, a daily close below $18.22 will take the parity down towards key supports at $18.02, $17.90, $17.40 and $17.02 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
       
    • Later today U.S. will release ISM manufacturing PMI data around 1400 GMT.

    We prefer to take long position on XAG/USD around $18.45, stop loss at $18.30 and target of $18.78.

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