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06.07.2021 11:13 AM
XAGUSD reacting above ascending trendline support! Further push up incoming!

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XAGUSD is holding above ascending trendline support. With technical indicators showing room for further upside, a further push up above 23.6% Fibonacci retracement and 1st support at 26.340 towards 1st resistance at 26.914 could be expected.

Trading Recommendation

Entry: 26.340

Reason for Entry:

23.6% Fibonacci retracement, ascending trendline support

Take Profit: 26.914

Reason for Take Profit:

-27.20% Fibonacci retracement

Stop Loss: 25.920

Reason for Stop Loss:

61.8% Fibonacci retracement, Graphical swing low support.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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