Forex Trading Library

XAGUSD Bullish Trend Tops $27!

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Chart of XAGUSD

It is assumed that silver is moving inside the global corrective trend consisting of cycle waves w-x-y-x-z.

The current chart H1 shows the structure of the cycle intervening wave x. This could end as a triple zigzag of the primary degree Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.

At the moment, the price could be in the primary wave Ⓩ. Perhaps this wave will be a standard zigzag, where the impulse and correction have ended. Wave (B) is a double zigzag.

In the near future, growth is expected in (C) approximately to 27.928, where the primary waves Ⓩ and Ⓨ will be equal.

Chart of XAGUSD

In the second scenario, the market focuses on the development of an intermediate wave (B). As in the main version, it can be a double zigzag. However, only the minor wave W is completed.

In the near future, a slight rise is possible in the second part, namely in wave X, after which a decrease is expected in the final actionary wave Y.

It is assumed that the intermediate correction (B) will be at 61.8% of impulse (A), and will end near 22.270.

Test your strategy on how the XAGUSD will fare with Orbex

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