XAGUSD Daily Forecast Apr 23 2014

The XAGUSD  maintained a bearish momentum  the past few days , printed resistance at the 19.71 levels  .This development leaves the pair targeting the 18.90  levels where a breach will turn focus on the 18.50  levels , further downside will aim the 18.00 levels.

On the upside , resistance comes at the 19.71 levels , break of 19.71 levels on a daily basis would recapture the 20.39 levels , If this resistance is taken out , expect the pair to strengthen further towards the 20.95 levels , further upside will aim the 21.30  levels..

In all , as long as resistance 91.71  holds on a daily closing basis  , outlook in XAGUSD  remains on the downside towards the 18.90/18.50  levels, break of 19.71  will reverse risks towards the 20.39  levels….


XAGUSD Daily Forecast Apr 23 2014