XAGUSD looking for LONG

21 ก.พ. 2017

XAGUSD has been consistently growing on the Weekly timeframe:


We closed last week with an indecision bar; however, the fundamentals should point higher and the Daily timeframe is still on an upward trend, so this might be a physiological retracement.


Let's see where the 4-hour chart brings this moment of indecision to see a clearer direction, which could make the price rebound to the upper trendline (also just below the 50% Fibonacci) somewhat below 18.40

The main trendline (violet in the chart) should anyway hold on the Daily.