Dashboard

Solid News

XAGUSD, Fibonacci Analysis

12/22/2022 2:19 PM

XAG/USD, D1

On the daily chart, the price is trying to start a downward correction from 24.11 (correction 0.0%) with a possible target of 22.61 (correction 23.6%), supported by the middle line of Bollinger bands. However, it will be difficult for quotes to break below, as the uptrend in the trading instrument trading remains, and if it consolidates again above 24.11, growth will resume to April highs around 26.20.

Technical indicators confirm the positive dynamics: Bollinger bands and Stochastic are directed upwards, while the MACD histogram is stable in the positive zone.


XAG/USD, W1

On the weekly chart, the price is rising for the fourth month in a row from the 18.00 area. Currently, the quotes are breaking through the opposite downwards fan and are close to 24.38 (correction 61.8%), the breakout of which will give prospects for reaching 25.70. After the breakdown of 23.18 (correction 50.0%), a decrease to 21.95 (correction 38.2%) will become possible.

Technical indicators do not give a clear signal: Bollinger bands are reversing upwards, and the MACD histogram is increasing in the positive zone, but Stochastic may leave the overbought zone, which does not exclude a corrective decline.

The further growth of quotations seems more likely, and in case of a breakout of 24.38 (correction 61.8%, W1), its targets will be 25.70, 26.20. A possible corrective rollback to 22.61 (correction 23.6%, D1) or 21.95 (correction 38.2%, W1) is unlikely to change the current downward trend.

Resistance levels: 24.38, 25.70, 26.20. | Support levels: 22.61, 21.95.

Find Us
Registered Address : Bonovo Road – Fomboni Island of Mohéli – Comoros Union
Sofia, PO Box 1407,14 Flip Kutev Str. Floor 2, Industrial area Hladilnika, Bulgaria
Mail Us
[email protected]
Call Us
+35 924 928 392


Risk Warnings
Solid ECN Securities LLC offers trading on Foreign Exchange (‘Forex’ or ‘FX’) and Contracts for Difference (‘CFDs’), which are complex financial products that are traded on margin. They carry a high level of risk since leverage can work both to your advantage and disadvantage. As a result, these products may not be suitable for all investors, as loss of all invested capital may occur. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved and consider your investment objectives and level of experience. Seek independent advice, if necessary.
Solid ECN Securities LLC does not issue advice, recommendations or opinions in relation to acquiring, holding or disposing of a CFD. Solid ECN Securities LLC is not a financial advisor and all services are provided on an execution-only basis. This communication is not an offer or solicitation to enter into a transaction and shall not be construed as such.
This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.
By using solidecn.com you agree to use our cookies to enhance your experience.
Solid ECN Securities LLC is authorized and regulated by the Comoros Union with reference number HY00623411.
Disclaimer 1: The information provided on this site is not intended for residents of any country or jurisdiction where its distribution or use would violate local laws or regulations.
Disclaimer 2: Solid ECN Securities LLC and it affiliates does not provide services to residents of the USA, Japan, Canada, Australia, the Democratic Republic of Korea, European Union, United Kingdom, Iran, Syria, Sudan and Cuba.
Copyright All Right Reserved 2024 SolidECN.com