Does XAGUSD move in tandem with XAUUSD? May be or maybe not?

FX:XAGUSD   Bạc / Đô la Mỹ
XAGUSD is another interesting chart we are interested in reviewing this week. The question is whether XAGUSD moves in tandem with XAUUSG. It's worth noting that sometimes they are and sometimes they are not. Here's why.

From a technical outlook, XAGUSD is facing a very strong resistance at 17.35 - 17.70 area where XAGUSD found its swing highs on 16 Oct 2017 and 17 November 2017 previously. Therefore, we are watching the chart very closely to see if the price will break above this resistance level or it will turn into a triple top formation. In the case of a potential triple top formation, we forecast that XAG USD will potentially test these support areas - 16.30- 16.70. If these levels do not provide the necessary support, XAGUSD may potentially go back to test the recent swing low at 15.60 on 12 December 2017.

We will monitor this instrument closely and will provide you with regular updates.

Good trading
19 January 2018


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Giao dịch đang hoạt động: XAGUSD does not seem to be able to break above the resistance level as indicated originally in our forecasting report. We will monitor this instrument for one more trading week.
Đóng lệnh: đạt mục tiêu: Sorry for the late update on this. XAGUSD actually tested all three "S"upport level and it is now on the verge of bouncing off therefrom. So, we will treat this case study a close and look for further opportunities when the time comes.
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