• FxWirePro: xag/usd rejects key resistance at $14.82 Mark, Federal Open Market Committee meeting minutes in focus

    Source: FxWire Pro - Technicals / 16 Oct 2018 22:23:22   America/New_York

    • XAG/USD is currently trading around $14.61 marks.
       
    • It made intraday high at $14.66 and low at $14.60 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at $14.82 mark.
       
    • A daily close above $14.64 will test key resistances at $14.82, $14.98, $15.10, $15.32 and $15.47 marks respectively.
       
    • On the other side, a daily close below $14.64 will take the parity down towards key supports at $14.58, $14.40, $14.22, $14.07, $13.90, $13.82, $13.68 and 13.51 marks respectively.
       
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
       
    • Later today U.S. FOMC meeting minutes in focus.

    We prefer to take short position on XAG/USD around $14.62, stop loss $14.72 and target of $14.40/$14.22.

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