XAGUSD Major trend line was broken along with a Doji
XAGUSD
Has following the same path as GOLD as its got some rejection around 1.25560 a Bearish engulfing candle was formed and felled towards 23.879 a s the USD got some major BID in recent days. The major redline was broken on October 13 with strong bearish candle along with a doji candle.
The price was bounced from 23.875 and approached towards 24.600 level which is a .618 Fibonacci level and in morning session even XAUUSD felled below the .786 Fibonacci level as its currently trading in a range we may expect downward play as The stimulus talks are getting weaker day by day which will strengthen the USD and in turn XAGUSD will fall. And the downside target would be 23.414 which is a 1.272 Fibonacci level
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Has following the same path as GOLD as its got some rejection around 1.25560 a Bearish engulfing candle was formed and felled towards 23.879 a s the USD got some major BID in recent days. The major redline was broken on October 13 with strong bearish candle along with a doji candle.
The price was bounced from 23.875 and approached towards 24.600 level which is a .618 Fibonacci level and in morning session even XAUUSD felled below the .786 Fibonacci level as its currently trading in a range we may expect downward play as The stimulus talks are getting weaker day by day which will strengthen the USD and in turn XAGUSD will fall. And the downside target would be 23.414 which is a 1.272 Fibonacci level
💌 Leave your valuable comments and suggestions related to this idea in the comment section.
Thanks for your time. Good day guys 💝
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