XAGUSD Weekly Forecast Aug 11 2014

Outlook in XAGUSD  remains neutral this week with risk to the downside towards the 19.46 levels . At this point I’d expect strong support from the 19.46 levels to contain fall from the 21.57 levels and bring reversal………If 19.46 fails , expect to see a free fall towards the 18.66/18.16 levels and possible lower towards the 17.00/16.00 levels..

On the upside , resistance comes at the 20.57  levels  ahead of the 21.46 levels , sustained trading – weekly closing – above this level is needed to resume the upside offensive , If seen , the pair will target the 22.35 levels where a breach will turn focus on the 23.35 levels…….

In all , the XAGUSD is likely to consolidate within 19.46 /21.46 range before the next move……..

 

XAGUSD Weekly Forecast Aug 11 2014

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