XAGUSD-long based on correlation and support
Here we can see the correlation between AUDUSD and silver.
After a deep retracement and good fundamental news the AUDUSD seems to start a rally at least to reach lasth highs (convergence level)
I expect the same scenario for silver, after a deep pullback price is finding support at key level. SL would be below this level.
The R/R ratio is good, lets see. Im showing only one target to test price should reach this level according to convergence.
You can manage the trade using a tested strategy.
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000
After a deep retracement and good fundamental news the AUDUSD seems to start a rally at least to reach lasth highs (convergence level)
I expect the same scenario for silver, after a deep pullback price is finding support at key level. SL would be below this level.
The R/R ratio is good, lets see. Im showing only one target to test price should reach this level according to convergence.
You can manage the trade using a tested strategy.
Best regards.
*****************DISCLAMER********************************************************************
Always do your own analysis and plan before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
Follow me on Twitter for updates: @fxtrader2000