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USD/JPY: general review 21 May 2019, 14:14

USD/JPY: general review 21 May 2019, 14:14 Scenario Timeframe Weekly Recommendation BUY Entry Point 110.26 Take Prof...

Jun 14, 2018

XAG/USD: Murrey analysis 14 June 2018, 13:33


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 17.10
Take Profit 17.18, 17.38
Stop Loss 16.90
Key Levels 16.40, 16.60, 16.79, 17.18, 17.38, 17.57
Alternative scenario
Recommendation SELL STOP
Entry Point 16.75
Take Profit 16.60, 16.40
Stop Loss 16.92
Key Levels 16.40, 16.60, 16.79, 17.18, 17.38, 17.57
On the daily chart, the price grew above the level of 16.99 ([7/8]) and is tending to the edge of the trading range to the area of ​​17.18 ([8/8]). In this case, the pair can reach the levels of 17.38 ([+1/8]) and 17.57 ([+2/8]). However, as Stochastic has entered the overbought zone, a correction within the uptrend is possible. Key "bearish" level is 16.97 ([6/8]). In case of the breakdown, the fall to the levels of 16.60 ([5/8], the middle Bollinger band line) and 16.40 ([4/8]) is possible. On the higher charts (W1, MN), the indicators confirm the further growth, which reflects the strength of the upward trend.
Support and resistance
Resistance levels: 17.18, 17.38, 17.57.
Support levels: 16.79, 16.60, 16.40.

Trading tips
Long positions can be opened from the current level with the targets at 17.18, 17.38 and stop loss around 16.90.
Short positions can be opened after the price is set below the level of 16.79 with the targets at 16.60, 16.40 and stop loss around ​​16.92.
Implementation period: 3–5 days.

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