XAGUSD Weekly Forecast Apr 21 2014

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The XAGUSD maintained a bearish momentum last week , bottomed at the 19.23 levels and topped at the 20.14 levels . This development leaves the pair targeting the 18.40 levels , a halt is likely , but a breach would open 17.40 next , further downside will aim the 16.25 levels.

On the upside , main resistance comes at the 20.14 levels , stability below this level will keep the pair under pressure , however ; sustained trading – weekly closing – above the 20.14 levels will signal short term bottoming , If seen , the pair will recapture the 21.00/22.17 levels , a break would open 23.30 next , further upside will pave the way to the 24.30 levels.

In all , as long as resistance 20.14 holds on a weekly closing basis , the outlook in XAGUSD remains on the downside towards the 18.40 levels ahead of the 17.40 levels , break of 20.14 levels will reverse risks towards the 21.00/22.17 levels…

 

XAGUSD Weekly Forecast Apr 21 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS

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