XAG/USD approaching support, potential bounce!

XAGUSD is approaching our first support at 14.83 (horizontal pullback support, 61.8% Fibonacci extension , 61.8% retracement , short term ascending line) where a strong bounce might occur to our first resistance at 15.30 (horizontal overlap resistance, 61.8% Fibonacci retracement ).

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.


The material has been provided by InstaForex Company - www.instaforex.com

No comments:

Post a Comment