Silver is having a heavy down day on the daily, however the pair is still largely in an uptrend.
With the DXY bouncing against it's 61.8% Fib, this may be an area to try a Long positions.
The pair showing signs of bouncing on the 1H against a rising trendline, bottom of the channel, as well as an 88.6% Fib. with stops below the lows at 15.132 this offer's a nice risk to reward at 1:5 for a shot at overhead resistance just above the previous highs.
With the DXY bouncing against it's 61.8% Fib, this may be an area to try a Long positions.
The pair showing signs of bouncing on the 1H against a rising trendline, bottom of the channel, as well as an 88.6% Fib. with stops below the lows at 15.132 this offer's a nice risk to reward at 1:5 for a shot at overhead resistance just above the previous highs.
