adam234

XAGUSD long entry / downward momentum seems to disappear

Long
FX:XAGUSD   Silver / U.S. Dollar
49 views
2
I am following this clear trend for a while, which is mainly driven by rate hike expectation and USD strength. As the market prices the expectations before measures materialize, I think XAGUSD has suffered enough, and EURUSD went down as much as it could without further trigger. I have rarely seen more than 10 falling candles after each other on any time frame, moreover support around 14 USD seems to be a hard nut to crack. Yesterday’s candle hints for a fading momentum, with the possibility of a quick recovery. The risk - reward is good, I don't expect more from a setup the execute the trade...

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