• FxWirePro: Silver trades flat ahead of ADP non – farm job data, Federal Open Market Committee rate decision

    Source: FxWire Pro - Technicals / 30 Oct 2019 04:37:54   America/New_York

    • XAG/USD is currently trading around $17.78 marks.
       
    • It made intraday high at $17.85 and low at $17.73 levels.
       
    • Intraday bias remains neutral till the time pair holds key support at $17.70 mark.
       
    • A daily close above $18.02 will test key resistances at $18.17, $18.45, $18.76, $19.07 and $19.27 marks respectively.
       
    • On the other side, a daily close below $17.78 will take the parity down towards key supports at $17.70, $17.47, $17.17, $16.97, $16.72, $16.40 and $16.17 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 only above $17.90, stop loss at $17.70 and target of $18.02/$18.17/$18.45.

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