XAGUSD Weekly Forecast 20 – 24 Jan

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XAGUSD Weekly Forecast 20 – 24 Jan  (Neutral )

Recommendations: LONG positions  above 19.82  with 20.81 & 21.75 as next targets.

Alternative scenario: The downside breakout of 19.82 will open 19.32/18.67 levels.

Description: Outlook in XAGUSD is cautiously on the upside this week with risk towards 20.81 ahead of 21.75 levels as long as support 19.82 holds on a daily closing basis, break of 21.75 would open 22.67 levels next. On the downside of losing  19.82 would signal short term topping and turn outlook bearish  towards 19.32/18.67 levels where a breach will extend losses towards 17.50 levels

Support & Resistance :17.50 , 18.67 , 19.32 , 19.82 (Pivot) , 20.81 , 21.75 , 22.67

 

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