XAGUSD Daily Forecast Aug 01 2014

The XAGUSD maintained a bearish momentum yesterday , topped at the 20.73  levels and bottomed at the 20.33  levels , now pressure will be on the key support 20.33……..

The XAGUSD  will have to hold below the 20.33  levels on a daily closing basis to push the market for further downside losses , If seen , It will target the 20.00  levels next , further downside will pave the way towards the 19.57  levels ahead of the 19.00  levels.

Alternatively ; a failure to hold below the 20.33  levels could mean a return to the 20.73 /20.92  levels , break of the 20.92  levels on a daily  basis will recapture the 21.25  levels ,If this resistance is taken out  , expect the pair to strengthen further towards the 21.57  levels……….

In all , as long as resistance 20.73/20.92  holds on a daily closing basis , outlook in XAGUSD remains on the downside towards the 20.00/19/57 levels , break of the 20.92  levels on a daily basis will turn outlook towards the 21.25 /21.57  levels before the next possible fall…….

 

XAGUSD Daily Forecast Aug 01 2014

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