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LiteForex Analytics

LiteForex Analytics

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#201
LiteForexTeam

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XAG/USD: technical analysis

XAG/USD, D1

On the daily chart the pair is traded within the middle line and the lower border of the Bollinger Bands indicator, the growth of price slowed. The MACD histogram is in the negative zone, its volumes are minimal, the signal line crosses the zero line downwards, giving a signal to open short positions. The Stochastic is growing towards the border of the neutral zone whit the overbought one, the signal line is pointed upwards, in case of crossing of the border the sell signal will be received.

XAG/USD, H4

On the 4-hour chart the pair is traded sideways within the narrow channel of the Bollinger Bands indicator borders. The MACD histogram is in the positive zone, moving sideways and keeping its volumes at the level of 0.060. The Stochastic is in the neutral zone, giving no clear signal.

Key levels

Support levels: 16.80, 16.20, 15.75, 15.50.
Resistance levels: 17.50, 18.00, 18.50.

Trading scenario

Open short positions at the current price with the target at 16.80. Stop loss is at 17.70. Implementation period: 1-3 days.
Open long positions at the level of 17.70 with the target at 18.50 and stop loss at 17.30. Implementation period: 1-3 days.


 


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#202
LiteForexTeam

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XAU/USD: general analysis

Current trend

During the trading session on Wednesday the gold prices grew by 0.38% due to the weakening of the USD. The price met the resistance level of 1251.21 and was slightly corrected. The traders’ activity lowered in expectation of the Head of the FRS Janet Yellen Speech today (14:45 GMT+2). The investors are waiting for the signals about the interest rate rise. If Janet Yellen implies the possibility of the rise on the June meeting, the USD will be significantly supported in the short term, which leads to the lowering the metal prices to the level of 1240.37 and lower. The neutral mood of the commentaries will support the gold prices to grow to the area of 1260.00.

Support and resistance

The technical picture is mixed. The Bollinger Bands indicator is pointed upwards, reflecting the possibility of further growth. The MACD histogram is in the positive zone, its volumes decreasing, reflecting the lowering of the traders’ activity. In case of breakout of the level of 1251.21 the upward trend will develop further.
Support levels: 1244.17, 1237.86, 1230.84.
Resistance levels: 1251.21, 1260.18, 1268.51.

Trading scenario

Open short positions below the level 1244.17 with the target at 1237.86 and stop loss at 1246.17.
Open long positions above the level 1251.21 with the target at в районе 1260.18 and stop loss at 1248.20.

Read more analytic on LiteForex site https://www.litefore...forex-analysis/

 


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#203
LiteForexTeam

LiteForexTeam

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XAG/USD: technical analysis

XAG/USD, D1

On the daily chart, the instrument is trading on the middle MA of Bollinger Bands. The price remains on the level with its moving averages that are horizontal. The RSI is approaching its longer MA. The Composite is testing its strong resistance.

XAG/USD, H4

On the 4-hour chart, the instrument is trading in the upper Bollinger band. The price remains just above its moving averages that start turning up. The RSI is testing its longer MA from below. The Composite turned up having failed its beginning of the week support. Both indicators are forming a Bearish pattern.

Key levels

Support levels: 17.27 (local lows), 17.20 (50% Fibonacci retracement), 16.80 (March lows).
Resistance levels: 17.73 (local highs), 18.02 (61.8% retracement), 18.38 (February highs).

Trading tips

The price is testing its previous descending trendline that coincides with its moving averages that the middle MA of Bollinger Bands. There is a chance of a downward rebound.

Short positions can be opened from current prices with targets at 17.27, 17.20 and stop-loss at 17.65. Validity – 3-5 days.
Long positions can be opened from the level of 17.73 with targets at 18.02, 18.38 and stop-loss at 17.62. Validity – 3-5 days.

Read more analytic on LiteForex site https://www.litefore...forex-analysis/


 


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