Silver / U.S. Dollar

Short

XAGUSD: Three key point to keep in mind

Updated

Hi traders,

On this XAGUSD daily chart I have drawn three key points for this pair.

The lowest one is the 127.2% extension of the mid December to mid January move
The middle one is the 141.4% extension of the mid December to mid January move combined with the 127.2% extension of the late January move
The top one is the 161.8% extension of the mid December to mid January move combined with the 161.8% extension of the late January move

Cheers

Note

We can see price having some trouble breaking the lowest area, although I do expect a breakout to the upside.

Note

Completed AB=CD pattern at the 161.8% Fibonacci extensions.

snapshot

Note

Nice reversal from the 161.8% Fibonacci extension

snapshot

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