XAGUSD Weekly Forecast Jul 21 2014

Outlook in XAGUSD has turned neutral this week, support comes at the 20.57 levels , sustained trading – weekly closing – below this level will open 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  levels and possible lower towards the 18.16 levels..

On the upside , resistance comes at 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 20.57/21.46  range before the next move……..


XAGUSD Weekly Forecast Jul 21 2014