XAGUSD is approaching our first support at 14.8020 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong bounce to our major resistance at 15.20565 (horizontal overlap resistance, 50% Fibonacci retracement ) might occur. Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
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