XAG/USD: general review

FX:XAGUSD   Silver/U.S. Dollar
24 0 0
Current trend

Yesterday the pair fell and lost about 50 points.
Market volatility is expected to be low today. Attention needs to be paid to data on the S&P/Case-Shiller Home Price Indices in the US. According to forecasts, the index will fall that might pressure the USD. Also, pay attention to data on Consumer Confidence that is expected to grow by 3.4%.

Support and resistance

On the 4-hour chart, the pair is trading between the upper and middle MA’s of Bollinger Bands . Moving averages with 50, 100, and 144 periods remain above the price and directed down indicating a negative trend. MACD histogram is in the negative zone and its volumes are growing. ADX is falling and DI lines are directed down indicating a fall in the pair.

Support levels: 13.86, 13.67.
Resistance levels: 14.03, 14.19, 14.40.

Trading tips

Long positions can be opened from the level of 14.03 with the target at 14.19. Validity – 1 day.
Short positions can be opened after the breakdown of the level of 13.86 with the target at 13.67. Validity – 1 day.
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