Technical Analytics Report

XAG/USD: Wave Analysis Report 18 May 2021

XAG/USD: Wave Analysis Report 18 May 2021


The pair is in a correction, a fall is possible. 

On the daily chart, the first wave of the higher level (1) of 3 formed, and a downward correction develops as the wave (2) of 3, within which the wave C of (2) forms. Now, the first wave of the lower level i of C has formed, and the correctional wave ii of C is ending. If the assumption is correct, after the end of the correction, the price will fall to the levels of 22.68–20.49. In this scenario, critical stop loss level is 30.07. 

Main Scenario 

Short positions will become relevant after the end of the correction, below the level of 30.07 with the targets at 22.68–20.49. Implementation period: 7 days and more. 

Alternative Scenario 

The breakout and the consolidation of the price above the level of 30.07 will let the price grow to the levels of 31.50–32.50. 

Scenario 

Timeframe: Weekly 

Recommendation: Sell

Entry Point: 28.51

Take Profit: 22.68, 20.49

Stop Loss: 30.07

Key Levels: 20.49, 22.68, 30.07, 31.50, 32.50 

Alternative Scenario 

Timeframe: Weekly

Recommendation: Buy Stop

Entry Point: 28.50

Take Profit: 31.50, 32.50

Stop Loss: 27.50

Key Levels: 20.49, 22.68, 30.07, 31.50, 32.50


Would you like to download this report?